SVB Wealth LLC Sells 37,813 Shares of Alphabet Inc. (NASDAQ:GOOG)

SVB Wealth LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 12.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 260,663 shares of the information services provider’s stock after selling 37,813 shares during the period. Alphabet comprises approximately 0.9% of SVB Wealth LLC’s investment portfolio, making the stock its 20th biggest holding. SVB Wealth LLC’s holdings in Alphabet were worth $36,735,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First American Trust FSB raised its stake in shares of Alphabet by 235.6% during the fourth quarter. First American Trust FSB now owns 11,387 shares of the information services provider’s stock valued at $1,605,000 after acquiring an additional 7,994 shares in the last quarter. Hamilton Point Investment Advisors LLC raised its stake in shares of Alphabet by 2.0% during the fourth quarter. Hamilton Point Investment Advisors LLC now owns 90,204 shares of the information services provider’s stock valued at $12,713,000 after acquiring an additional 1,776 shares in the last quarter. Members Trust Co raised its stake in shares of Alphabet by 13.1% during the fourth quarter. Members Trust Co now owns 3,448 shares of the information services provider’s stock valued at $487,000 after acquiring an additional 400 shares in the last quarter. Flputnam Investment Management Co. raised its stake in shares of Alphabet by 20.4% during the fourth quarter. Flputnam Investment Management Co. now owns 129,688 shares of the information services provider’s stock valued at $18,277,000 after acquiring an additional 22,012 shares in the last quarter. Finally, Capital Analysts LLC raised its stake in Alphabet by 3.8% in the fourth quarter. Capital Analysts LLC now owns 25,568 shares of the information services provider’s stock worth $3,604,000 after buying an additional 928 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock valued at $36,377,482 over the last ninety days. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

NASDAQ GOOG opened at $156.88 on Thursday. The firm’s fifty day simple moving average is $147.15 and its two-hundred day simple moving average is $141.61. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $103.27 and a 12-month high of $161.70. The firm has a market capitalization of $1.95 trillion, a P/E ratio of 27.05, a P/E/G ratio of 1.44 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.05 earnings per share. Analysts forecast that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GOOG shares. Oppenheimer boosted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus boosted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday. Raymond James boosted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna boosted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $159.86.

Alphabet 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.