Alphabet Inc. (NASDAQ:GOOG) is Delta Investment Management LLC’s 10th Largest Position

Delta Investment Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.7% in the fourth quarter, HoldingsChannel reports. The firm owned 79,470 shares of the information services provider’s stock after selling 2,246 shares during the quarter. Alphabet makes up about 2.8% of Delta Investment Management LLC’s investment portfolio, making the stock its 10th biggest position. Delta Investment Management LLC’s holdings in Alphabet were worth $11,200,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. JPMorgan Chase & Co. boosted its holdings in Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares during the period. International Assets Investment Management LLC purchased a new stake in Alphabet during the 4th quarter worth about $11,600,970,000. FMR LLC lifted its holdings in Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after buying an additional 4,348,188 shares during the last quarter. Cerity Partners LLC lifted its holdings in Alphabet by 198.7% during the 4th quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock worth $547,215,000 after buying an additional 2,583,128 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Alphabet by 93.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock worth $647,064,000 after buying an additional 2,222,950 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Stifel Nicolaus lifted their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Oppenheimer lifted their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Susquehanna lifted their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Finally, Raymond James lifted their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet presently has an average rating of “Buy” and an average price target of $165.67.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 230 shares of the 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 $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold 253,439 shares of company stock worth $36,746,578 in the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Up 10.0 %

Alphabet stock opened at $173.69 on Friday. Alphabet Inc. has a fifty-two week low of $104.42 and a fifty-two week high of $176.42. 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 company has a market capitalization of $2.16 trillion, a P/E ratio of 26.64, a PEG ratio of 1.60 and a beta of 1.05. The stock has a 50-day simple moving average of $149.12 and a 200-day simple moving average of $142.77.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the previous year, the business earned $1.17 EPS. The business’s quarterly revenue was up 15.4% on a year-over-year basis. Equities research analysts expect that Alphabet Inc. will post 6.8 earnings per share for the current 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.