Greystone Investment Management LLC trimmed its position in shares of Alphabet Inc (NASDAQ:GOOG) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,862 shares of the information services provider’s stock after selling 177 shares during the period. Alphabet makes up approximately 7.3% of Greystone Investment Management LLC’s investment portfolio, making the stock its largest position. Greystone Investment Management LLC’s holdings in Alphabet were worth $14,356,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. First PREMIER Bank raised its holdings in Alphabet by 80.0% in the 4th quarter. First PREMIER Bank now owns 36 shares of the information services provider’s stock valued at $38,000 after buying an additional 16 shares during the last quarter. Ironwood Financial llc raised its holdings in Alphabet by 111.1% in the 3rd quarter. Ironwood Financial llc now owns 95 shares of the information services provider’s stock valued at $113,000 after buying an additional 50 shares during the last quarter. Patton Albertson Miller Group LLC bought a new position in Alphabet in the 3rd quarter valued at approximately $116,000. ELM Advisors LLC bought a new position in Alphabet in the 3rd quarter valued at approximately $138,000. Finally, LFA Lugano Financial Advisors SA bought a new position in Alphabet in the 3rd quarter valued at approximately $161,000. Hedge funds and other institutional investors own 34.07% of the company’s stock.
A number of brokerages recently issued reports on GOOG. BidaskClub upgraded shares of Alphabet from a “sell” rating to a “hold” rating in a report on Wednesday. Deutsche Bank reiterated a “buy” rating and issued a $1,380.00 price objective (up previously from $1,300.00) on shares of Alphabet in a report on Tuesday, February 5th. Jefferies Financial Group reiterated a “buy” rating on shares of Alphabet in a report on Monday, November 19th. Piper Jaffray Companies raised their price objective on shares of Alphabet from $1,250.00 to $1,355.00 and gave the company an “overweight” rating in a report on Tuesday, February 5th. Finally, Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 6th. Three equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. Alphabet currently has an average rating of “Buy” and an average price target of $1,327.66.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, February 4th. The information services provider reported $12.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.86 by $1.91. Alphabet had a net margin of 22.47% and a return on equity of 19.94%. The firm had revenue of $39.28 billion during the quarter, compared to analyst estimates of $38.91 billion. During the same quarter last year, the business earned $9.70 EPS. The company’s revenue was up 21.5% compared to the same quarter last year. Analysts forecast that Alphabet Inc will post 47.38 earnings per share for the current year.
In other news, CEO Sundar Pichai sold 10,000 shares of Alphabet stock in a transaction on Wednesday, December 19th. The shares were sold at an average price of $1,041.50, for a total value of $10,415,000.00. Following the completion of the sale, the chief executive officer now owns 505 shares in the company, valued at approximately $525,957.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 375 shares of Alphabet stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,200.00, for a total transaction of $450,000.00. Following the completion of the sale, the director now owns 80 shares of the company’s stock, valued at approximately $96,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,437 shares of company stock valued at $38,346,021. Company insiders own 13.11% of the company’s stock.
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Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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