Dock Street Asset Management Inc. Has $36.05 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Dock Street Asset Management Inc. cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 215,625 shares of the information services provider’s stock after selling 5,594 shares during the period. Alphabet comprises 4.9% of Dock Street Asset Management Inc.’s portfolio, making the stock its 7th biggest position. Dock Street Asset Management Inc.’s holdings in Alphabet were worth $36,050,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Capital International Investors raised its position in shares of Alphabet by 9.3% in the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after acquiring an additional 7,470,042 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Alphabet by 19.7% in the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after acquiring an additional 13,876,534 shares in the last quarter. Capital World Investors raised its position in shares of Alphabet by 2.2% in the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock worth $6,963,128,000 after acquiring an additional 979,083 shares in the last quarter. Capital Research Global Investors raised its position in shares of Alphabet by 2.0% in the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after acquiring an additional 684,968 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Alphabet by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock valued at $2,688,743,000 after buying an additional 636,008 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GOOG has been the topic of several recent analyst reports. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Scotiabank initiated coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price on the stock. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, UBS Group reduced their target price on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $186.90.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock worth $35,993,340 over the last quarter. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Up 0.6 %

Shares of GOOG opened at $166.82 on Wednesday. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 25.59, a PEG ratio of 1.21 and a beta of 1.04. The stock’s 50-day moving average price is $163.23 and its 200-day moving average price is $169.96.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter in the prior year, the business earned $1.44 earnings per share. The company’s revenue was up 13.6% compared to the same quarter last year. On average, sell-side analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Company 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.