Westwood Wealth Management cut its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 16.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,140 shares of the information services provider’s stock after selling 1,360 shares during the period. Alphabet comprises 0.7% of Westwood Wealth Management’s portfolio, making the stock its 24th largest holding. Westwood Wealth Management’s holdings in Alphabet were worth $743,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC boosted its position in shares of Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after acquiring an additional 129,835,437 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Alphabet by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 97,481,034 shares of the information services provider’s stock worth $8,631,760,000 after acquiring an additional 988,569 shares during the last quarter. Morgan Stanley lifted its position in Alphabet by 37.6% during the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock valued at $6,368,961,000 after purchasing an additional 19,612,974 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Alphabet by 1,807.4% during the third quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock valued at $5,487,226,000 after purchasing an additional 54,077,519 shares during the last quarter. Finally, Norges Bank bought a new position in Alphabet during the fourth quarter valued at $3,059,614,000. 27.17% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Alphabet
In other news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total value of $25,130.00. Following the sale, the director now directly owns 5,740 shares in the company, valued at approximately $721,231. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total value of $25,130.00. Following the sale, the director now directly owns 5,740 shares in the company, valued at approximately $721,231. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann Mather sold 9,540 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $125.33, for a total transaction of $1,195,648.20. Following the completion of the sale, the director now owns 2,800 shares in the company, valued at $350,924. The disclosure for this sale can be found here. In the last quarter, insiders have sold 832,882 shares of company stock valued at $26,102,123. Company insiders own 12.99% of the company’s stock.
Analysts Set New Price Targets
Alphabet Trading Up 4.4 %
NASDAQ GOOG opened at $124.83 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. The company has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 1.51 and a beta of 1.06. The company’s 50-day simple moving average is $121.29 and its two-hundred day simple moving average is $106.41. Alphabet Inc. has a one year low of $83.45 and a one year high of $129.55.
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The business had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $68.80 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.23 EPS. Equities analysts forecast that Alphabet Inc. will post 5.39 EPS for the current fiscal year.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
Recommended Stories
- Five stocks we like better than Alphabet
- Delta Takes Flight: Double-Digit Upside In Sight
- Generac Powers Up as Summer Temperatures Rise
- 3 Reasons Why Rivian Can Continue To Surge Higher
- Despite Breaking Higher, Analysts Remain Cautious HP Inc.
- PepsiCo Can Soar To New Highs In The 2nd Half
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 – Free Report).
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.
