Franklin Street Advisors Inc. NC Sells 1,935 Shares of Alphabet Inc. (NASDAQ:GOOG)

Franklin Street Advisors Inc. NC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 352,525 shares of the information services provider’s stock after selling 1,935 shares during the quarter. Alphabet accounts for about 4.1% of Franklin Street Advisors Inc. NC’s investment portfolio, making the stock its 4th largest position. Franklin Street Advisors Inc. NC’s holdings in Alphabet were worth $49,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the stock. Financial Advisors Network Inc. boosted its stake in Alphabet by 4.5% in the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after purchasing an additional 7 shares in the last quarter. Turim 21 Investimentos Ltda. increased its position in Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after acquiring an additional 8 shares in the last quarter. West Michigan Advisors LLC lifted its position in shares of Alphabet by 3.7% during the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock worth $704,000 after purchasing an additional 9 shares in the last quarter. Somerville Kurt F grew its stake in shares of Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after purchasing an additional 11 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC increased its holdings in shares of Alphabet by 1.4% in the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $3,301,000 after purchasing an additional 16 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 425 shares of Alphabet stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $139.61, for a total value of $59,334.25. Following the sale, the chief accounting officer now directly owns 27,259 shares in the company, valued at $3,805,628.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 425 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $139.61, for a total transaction of $59,334.25. Following the completion of the transaction, the chief accounting officer now directly owns 27,259 shares of the company’s stock, valued at $3,805,628.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the sale, the chief executive officer now owns 2,310,191 shares in the company, valued at approximately $343,710,216.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 251,138 shares of company stock valued at $35,427,655. 12.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GOOG shares. Susquehanna lifted their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Raymond James lifted their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $146.33.

Alphabet Stock Performance

Shares of GOOG opened at $152.26 on Friday. Alphabet Inc. has a twelve month low of $100.29 and a twelve month high of $155.20. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The firm’s 50 day moving average price is $144.75 and its two-hundred day moving average price is $139.39. The firm has a market cap of $1.89 trillion, a P/E ratio of 26.25, a PEG ratio of 1.40 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its 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. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. During the same period in the prior year, the business earned $1.05 EPS. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, analysts forecast that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

About Alphabet

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.