Boenning & Scattergood Inc. Trims Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Boenning & Scattergood Inc. cut its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 95.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,387 shares of the information services provider’s stock after selling 45,418 shares during the period. Alphabet makes up 1.1% of Boenning & Scattergood Inc.’s holdings, making the stock its 13th biggest holding. Boenning & Scattergood Inc.’s holdings in Alphabet were worth $6,667,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Financial Advisors Network Inc. increased its holdings in Alphabet by 4.5% during the 1st 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 in the last quarter. Turim 21 Investimentos Ltda. grew its holdings 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 worth $229,000 after buying an additional 8 shares in the last quarter. West Michigan Advisors LLC grew its holdings 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 worth $704,000 after buying an additional 9 shares in the last quarter. Somerville Kurt F grew its holdings 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 worth $330,000 after buying an additional 11 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC grew its holdings in Alphabet by 1.4% in 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 purchasing an additional 16 shares during the period. 28.69% of the stock is owned by hedge funds and other institutional investors.

Get Alphabet alerts:

Analysts Set New Price Targets

A number of brokerages have weighed in on GOOG. Oppenheimer lifted their price target on shares of Alphabet from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. UBS Group lifted their price target on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday. The Goldman Sachs Group set a $128.00 price target on shares of Alphabet in a research report on Friday, February 3rd. Raymond James lifted their price target on shares of Alphabet from $116.00 to $119.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Finally, Cowen reduced their target price on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 11th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $135.24.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 11,313 shares of the stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $100.00, for a total value of $1,131,300.00. Following the completion of the sale, the insider now directly owns 41,970 shares of the company’s stock, valued at $4,197,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of Alphabet stock in a transaction dated Monday, March 13th. The stock was bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 11,313 shares of the firm’s stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $100.00, for a total value of $1,131,300.00. Following the completion of the transaction, the insider now directly owns 41,970 shares of the company’s stock, valued at $4,197,000. The disclosure for this sale can be found here. Insiders have sold a total of 112,192 shares of company stock worth $11,373,417 over the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 3.8 %

Shares of GOOG stock opened at $108.90 on Friday. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $137.70. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $98.63 and its two-hundred day moving average is $96.46. The company has a market cap of $1.39 trillion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 1.45 and a beta of 1.10.

Alphabet (NASDAQ:GOOG – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The company had revenue of $76.05 billion for the quarter, compared to analyst estimates of $76.49 billion. During the same quarter last year, the business earned $1.53 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post 5.11 EPS for the current year.

About Alphabet

(Get Rating)

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.

See Also

• Get a free copy of the StockNews.com research report on Alphabet (GOOG)
• Costco Sales Disappoint, Markets Are Missing This Upside Driver
• First Republic Bank Is A Speculative Play, Here’s Why
• The WD-40 Company Bottoms With Reversal In Sight 
• 3 Low-Cost Stock ETFs That Are Crushing It This Year
• FedEx Takes Flight; Analysts See More Gains Ahead

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Get Rating).

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.