Carret Asset Management LLC Cuts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Carret Asset Management LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 176,211 shares of the information services provider’s stock after selling 541 shares during the period. Alphabet makes up about 3.2% of Carret Asset Management LLC’s investment portfolio, making the stock its 5th largest position. Carret Asset Management LLC’s holdings in Alphabet were worth $24,833,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GOOG. Tandem Wealth Advisors LLC acquired a new stake in shares of Alphabet during the 3rd quarter valued at about $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at about $26,000. Equitec Proprietary Markets LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at about $28,000. Buck Wealth Strategies LLC acquired a new stake in shares of Alphabet during the 3rd quarter valued at about $32,000. Finally, Barometer Capital Management Inc. acquired a new stake in shares of Alphabet during the 3rd quarter valued at about $32,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GOOG shares. Susquehanna lifted their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Oppenheimer boosted their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Morgan Stanley restated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Raymond James boosted their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Finally, Stifel Nicolaus boosted their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and a consensus target price of $159.86.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $176.28 on Friday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $148.48 and its two-hundred day moving average is $142.51. The company has a market cap of $2.19 trillion, a P/E ratio of 27.23, a P/E/G ratio of 1.48 and a beta of 1.05. Alphabet Inc. has a 12 month low of $104.42 and a 12 month high of $176.28.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.17 EPS. On average, equities analysts expect that Alphabet Inc. will post 6.79 EPS for the current year.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 230 shares of Alphabet 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 transaction, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the sale, the chief executive officer now directly owns 2,332,691 shares in the company, valued at $309,548,095.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were 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 in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold a total of 251,339 shares of company stock valued at $36,377,482 in the last three months. Company insiders own 12.99% of the company’s stock.

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.