Obermeyer Wood Investment Counsel Lllp Reduces Holdings in Alphabet Inc. (NASDAQ:GOOG)

Obermeyer Wood Investment Counsel Lllp reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 518,031 shares of the information services provider’s stock after selling 12,848 shares during the quarter. Alphabet makes up 5.0% of Obermeyer Wood Investment Counsel Lllp’s investment portfolio, making the stock its 4th biggest position. Obermeyer Wood Investment Counsel Lllp’s holdings in Alphabet were worth $73,006,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GOOG. Totem Point Management LLC grew its stake in Alphabet by 22.0% in the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after acquiring an additional 571 shares in the last quarter. Somerville Kurt F boosted its stake 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 valued at $330,000 after purchasing an additional 11 shares in the last quarter. BCK Partners Inc. bought a new position in shares of Alphabet during the first quarter valued at approximately $2,564,000. Hall Capital Management Co. Inc. boosted its stake in shares of Alphabet by 53.2% during the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after purchasing an additional 50 shares in the last quarter. Finally, Fairfield Bush & CO. boosted its stake in shares of Alphabet by 6.8% during the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after purchasing an additional 214 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Down 1.1 %

NASDAQ GOOG opened at $155.72 on Friday. The company has a fifty day simple moving average of $147.46 and a two-hundred day simple moving average of $141.93. The stock has a market cap of $1.94 trillion, a P/E ratio of 26.85, a P/E/G ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a 12-month low of $103.27 and a 12-month high of $161.70. 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 (NASDAQ:GOOG) last posted its quarterly 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. The business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the company posted $1.05 earnings per share. On average, analysts forecast that Alphabet Inc. will post 6.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 251,339 shares of company stock valued at $36,377,482. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Raymond James increased their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Stifel Nicolaus raised their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer raised their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, Susquehanna raised their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet presently has an average rating of “Buy” and a consensus target price of $159.86.

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.