Lodestar Private Asset Management LLC Sells 221 Shares of Alphabet Inc. (NASDAQ:GOOG)

Lodestar Private Asset Management LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,354 shares of the information services provider’s stock after selling 221 shares during the quarter. Lodestar Private Asset Management LLC’s holdings in Alphabet were worth $755,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Advisors Network Inc. raised its stake in Alphabet by 4.5% during the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after acquiring an additional 7 shares in the last quarter. Turim 21 Investimentos Ltda. raised its stake in 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 acquiring an additional 8 shares in the last quarter. West Michigan Advisors LLC increased its stake in shares of Alphabet by 3.7% in the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after buying an additional 9 shares in the last quarter. Somerville Kurt F increased its stake in shares of Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after buying an additional 11 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC increased its stake in shares of 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 buying an additional 16 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GOOG shares. Oppenheimer raised their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Morgan Stanley restated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday. Raymond James lifted their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Finally, Susquehanna lifted their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet presently has an average rating of “Buy” and a consensus target price of $157.50.

Alphabet Price Performance

Shares of GOOG opened at $159.19 on Monday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1 year low of $103.27 and a 1 year high of $161.70. The stock has a market cap of $1.98 trillion, a P/E ratio of 27.45, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05. The stock’s 50-day moving average price is $146.51 and its two-hundred day moving average price is $141.17.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. During the same quarter last year, the business earned $1.05 earnings per share. The company’s revenue was up 13.5% compared to the same quarter last year. On average, equities analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current year.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold 250,539 shares of company stock worth $35,906,259 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

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.