Motco Decreases Stake in Alphabet Inc (NASDAQ:GOOG)

Motco lessened its holdings in Alphabet Inc (NASDAQ:GOOG) by 13.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 592 shares of the information services provider’s stock after selling 90 shares during the quarter. Motco’s holdings in Alphabet were worth $613,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ayalon Holdings Ltd. bought a new position in shares of Alphabet in the fourth quarter valued at $32,000. 1 North Wealth Services LLC bought a new position in shares of Alphabet in the fourth quarter valued at $34,000. First PREMIER Bank grew its stake in shares of Alphabet by 80.0% in the fourth quarter. First PREMIER Bank now owns 36 shares of the information services provider’s stock valued at $38,000 after buying an additional 16 shares in the last quarter. TD Capital Management LLC grew its stake in shares of Alphabet by 38.5% in the fourth quarter. TD Capital Management LLC now owns 36 shares of the information services provider’s stock valued at $37,000 after buying an additional 10 shares in the last quarter. Finally, CX Institutional grew its stake in shares of Alphabet by 471.4% in the fourth quarter. CX Institutional now owns 40 shares of the information services provider’s stock valued at $41,000 after buying an additional 33 shares in the last quarter. 33.95% of the stock is currently owned by institutional investors.

In other news, Director Ann Mather sold 39 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $1,182.00, for a total transaction of $46,098.00. Following the sale, the director now directly owns 1,797 shares in the company, valued at $2,124,054. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 75 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $1,280.51, for a total value of $96,038.25. Following the completion of the sale, the director now owns 159 shares in the company, valued at $203,601.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 423 shares of company stock worth $494,939. Company insiders own 12.99% of the company’s stock.

A number of research firms have commented on GOOG. Credit Suisse Group reaffirmed a “sell” rating on shares of Alphabet in a research report on Wednesday, May 15th. Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,399.00 price objective for the company in a research report on Wednesday, April 24th. Deutsche Bank lifted their price objective on shares of Alphabet from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. BidaskClub raised Alphabet from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $1,361.50.

GOOG stock traded up $4.90 during midday trading on Friday, reaching $1,080.91. The company had a trading volume of 1,264,512 shares, compared to its average volume of 1,504,721. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.96 and a quick ratio of 3.93. The stock has a market capitalization of $750.41 billion, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. Alphabet Inc has a 1-year low of $970.11 and a 1-year high of $1,289.27. The company’s 50 day simple moving average is $1,111.38.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, April 29th. The information services provider reported $11.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $10.51 by $1.39. The firm had revenue of $36.34 billion during the quarter, compared to the consensus estimate of $37.36 billion. Alphabet had a return on equity of 20.06% and a net margin of 19.71%. The business’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.93 earnings per share. Research analysts anticipate that Alphabet Inc will post 48.44 EPS for the current year.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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