Sanders Morris Harris LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 12.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,250 shares of the information services provider’s stock after selling 2,670 shares during the quarter. Alphabet comprises about 0.6% of Sanders Morris Harris LLC’s investment portfolio, making the stock its 23rd largest position. Sanders Morris Harris LLC’s holdings in Alphabet were worth $1,708,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Financial Advisors Network Inc. boosted its stake in shares of Alphabet by 4.5% during the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after acquiring an additional 7 shares during the last quarter. Turim 21 Investimentos Ltda. boosted its stake in shares of Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after acquiring an additional 8 shares during the last quarter. West Michigan Advisors LLC boosted its stake in shares of Alphabet by 3.7% during the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after acquiring an additional 9 shares during the last quarter. Somerville Kurt F boosted its stake in shares of Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after acquiring an additional 11 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC boosted its stake in shares of Alphabet by 1.4% during the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $3,301,000 after acquiring an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 28.69% of the company’s stock.
Alphabet Stock Performance
Alphabet stock opened at $104.22 on Thursday. The stock’s 50-day moving average is $96.53 and its 200-day moving average is $96.61. The company has a market cap of $1.33 trillion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 1.41 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $144.16.
Insider Activity at Alphabet
In related news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the sale, the director now directly owns 11,300 shares in the company, valued at approximately $1,008,412. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 380 shares of Alphabet stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the sale, the director now owns 11,300 shares in the company, valued at $1,008,412. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,245 shares of company stock worth $7,174,078. 12.99% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on GOOG shares. Sanford C. Bernstein set a $130.00 price objective on Alphabet in a research note on Monday, February 6th. Cowen decreased their price objective on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 11th. Societe Generale decreased their price objective on Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. Raymond James raised their price target on Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Finally, Bank of America raised their price target on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. One investment analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $135.11.
Alphabet Profile
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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