Institute for Wealth Management LLC. Trims Holdings in Alphabet Inc. (NASDAQ:GOOG)

Institute for Wealth Management LLC. trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,179 shares of the information services provider’s stock after selling 153 shares during the period. Institute for Wealth Management LLC.’s holdings in Alphabet were worth $3,272,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Integris Wealth Management LLC lifted its holdings in Alphabet by 16.5% in the 4th quarter. Integris Wealth Management LLC now owns 2,809 shares of the information services provider’s stock valued at $535,000 after purchasing an additional 398 shares in the last quarter. AA Financial Advisors LLC lifted its holdings in Alphabet by 6.8% in the 4th quarter. AA Financial Advisors LLC now owns 7,634 shares of the information services provider’s stock valued at $1,454,000 after purchasing an additional 487 shares in the last quarter. CMG Global Holdings LLC purchased a new position in Alphabet in the 4th quarter valued at about $220,000. Evernest Financial Advisors LLC lifted its holdings in Alphabet by 1.1% in the 4th quarter. Evernest Financial Advisors LLC now owns 10,004 shares of the information services provider’s stock valued at $1,905,000 after purchasing an additional 106 shares in the last quarter. Finally, Hunter Associates Investment Management LLC lifted its holdings in Alphabet by 1.6% in the 4th quarter. Hunter Associates Investment Management LLC now owns 17,569 shares of the information services provider’s stock valued at $3,345,000 after purchasing an additional 275 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the transaction, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at approximately $369,672,512.16. This represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 122,529 shares of company stock valued at $22,453,483 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Down 1.4 %

Shares of NASDAQ:GOOG opened at $202.64 on Tuesday. The company has a market capitalization of $2.48 trillion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 1.32 and a beta of 1.00. The company has a 50 day moving average of $190.48 and a two-hundred day moving average of $175.55. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $207.08.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GOOG shares. Pivotal Research increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Oppenheimer increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Wells Fargo & Company increased their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.