Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 0.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 61,862 shares of the information services provider’s stock after selling 394 shares during the period. Alphabet accounts for approximately 2.0% of Smithbridge Asset Management Inc. DE’s investment portfolio, making the stock its 9th largest holding. Smithbridge Asset Management Inc. DE’s holdings in Alphabet were worth $8,718,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC grew its stake in shares of Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after purchasing an additional 129,835,437 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Alphabet by 1,807.4% during the third quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock worth $5,487,226,000 after purchasing an additional 54,077,519 shares during the period. Norges Bank acquired a new stake in shares of Alphabet during the fourth quarter worth $3,059,614,000. Morgan Stanley grew its stake in shares of Alphabet by 37.6% during the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after purchasing an additional 19,612,974 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Alphabet by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after purchasing an additional 9,703,425 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 0.2 %

GOOG traded up $0.27 on Thursday, hitting $152.21. 8,876,932 shares of the company were exchanged, compared to its average volume of 22,928,201. The stock’s fifty day moving average is $144.57 and its 200-day moving average is $139.30. The company has a market cap of $1.89 trillion, a PE ratio of 26.16, a PEG ratio of 1.40 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet Inc. has a 12 month low of $100.29 and a 12 month high of $155.20.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 earnings per share. Equities research analysts predict that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Insider Activity

In related news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CAO Amie Thuener O’toole sold 425 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $139.61, for a total value of $59,334.25. Following the completion of the sale, the chief accounting officer now directly owns 27,259 shares in the company, valued at $3,805,628.99. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 251,378 shares of company stock valued at $35,461,377. 12.99% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on GOOG. Susquehanna lifted their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Raymond James boosted their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $146.33.

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.