Stonegate Investment Group LLC Sells 1,488 Shares of Alphabet Inc. (NASDAQ:GOOG)

Stonegate Investment Group LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,519 shares of the information services provider’s stock after selling 1,488 shares during the period. Stonegate Investment Group LLC’s holdings in Alphabet were worth $3,527,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GOOG. FMR LLC lifted its stake in Alphabet by 5.2% in the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after acquiring an additional 5,655,022 shares during the period. Geode Capital Management LLC lifted its position in shares of Alphabet by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock worth $17,247,208,000 after purchasing an additional 259,213 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Alphabet by 10.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after purchasing an additional 3,113,395 shares in the last quarter. Jennison Associates LLC increased its position in shares of Alphabet by 9.1% during the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock valued at $2,578,793,000 after buying an additional 1,291,274 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Alphabet by 2.5% in the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock worth $1,843,149,000 after buying an additional 264,962 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 1.5 %

NASDAQ:GOOG opened at $205.60 on Friday. The company has a market cap of $2.52 trillion, a PE ratio of 27.27, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a 50 day simple moving average of $189.70 and a two-hundred day simple moving average of $175.54. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $207.08.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. Alphabet’s revenue was up 15.1% compared to the same quarter last year. Research analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current year.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the transaction, the chief executive officer now directly owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,630 shares of company stock valued at $22,258,133 in the last quarter. 12.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wells Fargo & Company upped their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Pivotal Research upped their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Scotiabank increased their price target on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Finally, UBS Group boosted their price objective on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.