Bank Julius Baer & Co. Ltd Zurich Trims Holdings in Alphabet Inc. (NASDAQ:GOOG)

Bank Julius Baer & Co. Ltd Zurich decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 219,762 shares of the information services provider’s stock after selling 3,961 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Alphabet were worth $30,971,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cranbrook Wealth Management LLC boosted its position in shares of Alphabet by 14.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock valued at $80,000 after purchasing an additional 70 shares during the period. Manchester Financial Inc. boosted its position in shares of Alphabet by 3.6% in the 4th quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock valued at $299,000 after purchasing an additional 74 shares during the period. Atticus Wealth Management LLC boosted its position in shares of Alphabet by 1.4% in the 3rd quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock valued at $694,000 after purchasing an additional 75 shares during the period. Congress Park Capital LLC boosted its position in shares of Alphabet by 0.3% in the 4th quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock valued at $3,177,000 after purchasing an additional 76 shares during the period. Finally, Emerald Advisors LLC boosted its position in shares of Alphabet by 0.6% in the 4th quarter. Emerald Advisors LLC now owns 13,565 shares of the information services provider’s stock valued at $1,912,000 after purchasing an additional 76 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of a number of research analyst reports. Stifel Nicolaus upped their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Raymond James upped their price objective on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Oppenheimer upped their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, Susquehanna upped their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet presently has an average rating of “Buy” and a consensus target price of $165.67.

Alphabet Stock Up 10.0 %

GOOG opened at $173.69 on Friday. The business has a 50 day moving average price of $149.12 and a two-hundred day moving average price of $142.75. 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 company has a market cap of $2.16 trillion, a PE ratio of 26.64, a P/E/G ratio of 1.45 and a beta of 1.05. Alphabet Inc. has a 52 week low of $104.42 and a 52 week high of $176.42.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 6.79 EPS for the current year.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the 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 completion of the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the company’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 value of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. In the last three months, insiders sold 253,439 shares of company stock valued at $36,746,578. Corporate insiders own 12.99% of the company’s stock.

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.