Destination Wealth Management Sells 14 Shares of Alphabet Inc (GOOG)

Destination Wealth Management lowered its position in shares of Alphabet Inc (NASDAQ:GOOG) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 768 shares of the information services provider’s stock after selling 14 shares during the period. Destination Wealth Management’s holdings in Alphabet were worth $795,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in GOOG. Ayalon Holdings Ltd. bought a new position in Alphabet in the 4th quarter valued at about $32,000. First PREMIER Bank grew its position 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 in the last quarter. CX Institutional grew its position in Alphabet by 471.4% in the 4th quarter. CX Institutional now owns 40 shares of the information services provider’s stock valued at $41,000 after buying an additional 33 shares in the last quarter. Bogart Wealth LLC grew its position in Alphabet by 440.0% in the 4th quarter. Bogart Wealth LLC now owns 54 shares of the information services provider’s stock valued at $55,000 after buying an additional 44 shares in the last quarter. Finally, Norway Savings Bank grew its position in Alphabet by 28.6% in the 4th quarter. Norway Savings Bank now owns 90 shares of the information services provider’s stock valued at $93,000 after buying an additional 20 shares in the last quarter. Institutional investors and hedge funds own 34.36% of the company’s stock.

GOOG stock opened at $1,120.44 on Wednesday. The company has a quick ratio of 3.93, a current ratio of 3.96 and a debt-to-equity ratio of 0.02. Alphabet Inc has a one year low of $970.11 and a one year high of $1,289.27. The stock has a market cap of $786.97 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 1.37 and a beta of 1.03.



Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Monday, April 29th. The information services provider reported $11.90 EPS for the quarter, beating analysts’ consensus estimates of $10.51 by $1.39. Alphabet had a net margin of 19.71% and a return on equity of 20.06%. The company had revenue of $36.34 billion during the quarter, compared to analyst estimates of $37.36 billion. During the same period in the prior year, the firm earned $9.93 earnings per share. The business’s quarterly revenue was up 16.7% on a year-over-year basis. Sell-side analysts predict that Alphabet Inc will post 48.57 EPS for the current year.

In other Alphabet news, Director John L. Hennessy sold 375 shares of the company’s stock in a transaction dated 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 directly owns 80 shares of the company’s stock, valued at $96,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 75 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $1,280.51, for a total transaction of $96,038.25. Following the sale, the director now directly owns 159 shares of the company’s stock, valued at $203,601.09. The disclosure for this sale can be found here. Insiders have sold 817 shares of company stock valued at $974,730 over the last ninety days. Insiders own 13.11% of the company’s stock.

A number of brokerages recently issued reports on GOOG. Cowen reiterated an “outperform” rating and issued a $1,420.00 target price (up previously from $1,390.00) on shares of Alphabet in a research report on Thursday, April 11th. Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Tuesday, April 23rd. Credit Suisse Group reissued a “buy” rating on shares of Alphabet in a report on Tuesday, April 30th. Stifel Nicolaus downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,287.00 price target for the company. in a report on Tuesday, April 30th. Finally, Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,399.00 price target for the company in a report on Wednesday, April 24th. Four investment analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $1,354.36.

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About Alphabet

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.

See Also: Insider Trading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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