Alphabet Inc. (NASDAQ:GOOG) Holdings Cut by NewSquare Capital LLC

NewSquare Capital LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 61.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 300 shares of the information services provider’s stock after selling 478 shares during the quarter. NewSquare Capital LLC’s holdings in Alphabet were worth $42,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tandem Wealth Advisors LLC acquired a new stake in Alphabet in the 3rd quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of Alphabet in the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC acquired a new position in shares of Alphabet in the 4th quarter worth approximately $28,000. Buck Wealth Strategies LLC acquired a new position in shares of Alphabet in the 3rd quarter worth approximately $32,000. Finally, Barometer Capital Management Inc. acquired a new position in shares of Alphabet in the 3rd quarter worth approximately $32,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $161.10 on Thursday. The company has a market capitalization of $2.00 trillion, a PE ratio of 27.78, a PEG ratio of 1.47 and a beta of 1.05. Alphabet Inc. has a 12 month low of $103.27 and a 12 month high of $161.70. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock’s fifty day simple moving average is $148.20 and its 200 day simple moving average is $142.40.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. During the same quarter last year, the business posted $1.05 EPS. The firm’s revenue was up 13.5% compared to the same quarter last year. On average, research analysts predict that Alphabet Inc. will post 6.79 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus raised their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Raymond James raised 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. Oppenheimer increased their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Susquehanna increased their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Finally, Morgan Stanley restated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $159.86.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock valued at $36,377,482 in the last 90 days. 12.99% of the stock is currently owned by company insiders.

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.