Princeton Global Asset Management LLC Reduces Position in Alphabet Inc. (NASDAQ:GOOG)

Princeton Global Asset Management LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,476 shares of the information services provider’s stock after selling 32 shares during the period. Princeton Global Asset Management LLC’s holdings in Alphabet were worth $2,586,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Wellington Shields & Co. LLC boosted its stake in shares of Alphabet by 1.5% during the 4th quarter. Wellington Shields & Co. LLC now owns 1,131 shares of the information services provider’s stock worth $1,981,000 after purchasing an additional 17 shares during the period. GVO Asset Management Ltd purchased a new position in shares of Alphabet during the 4th quarter worth about $2,882,000. Oakmont Corp purchased a new position in shares of Alphabet during the 4th quarter worth about $201,000. Equitable Holdings Inc. lifted its holdings in Alphabet by 2.8% during the 4th quarter. Equitable Holdings Inc. now owns 3,444 shares of the information services provider’s stock valued at $6,033,000 after buying an additional 94 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Alphabet by 0.9% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 82,849 shares of the information services provider’s stock valued at $145,142,000 after buying an additional 741 shares in the last quarter. 31.94% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Alphabet from a “buy” rating to a “hold” rating in a report on Wednesday, February 3rd. Barclays reiterated a “buy” rating on shares of Alphabet in a report on Thursday, February 4th. UBS Group reiterated a “buy” rating on shares of Alphabet in a report on Friday, October 30th. Jefferies Financial Group lifted their price objective on shares of Alphabet from $2,150.00 to $2,400.00 in a report on Wednesday, February 3rd. Finally, Robert W. Baird lifted their price objective on shares of Alphabet from $1,675.00 to $1,725.00 in a report on Friday, October 30th. Two analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $2,184.71.

NASDAQ:GOOG traded down $10.87 during midday trading on Tuesday, reaching $2,054.01. The stock had a trading volume of 38,402 shares, compared to its average volume of 1,637,658. The firm has a fifty day simple moving average of $1,922.66 and a two-hundred day simple moving average of $1,706.52. Alphabet Inc. has a 12-month low of $1,013.54 and a 12-month high of $2,152.68. The company has a quick ratio of 3.39, a current ratio of 3.41 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.38 trillion, a P/E ratio of 38.82, a P/E/G ratio of 1.66 and a beta of 0.98.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, February 1st. The information services provider reported $22.30 EPS for the quarter, topping the consensus estimate of $15.91 by $6.39. The company had revenue of $56.90 billion for the quarter, compared to analyst estimates of $52.86 billion. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. The business’s revenue was up 23.5% on a year-over-year basis. During the same period in the previous year, the firm earned $15.35 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 52.19 earnings per share for the current fiscal year.

In other news, CAO Amie Thuener O’toole sold 30 shares of Alphabet stock in a transaction on Tuesday, December 15th. The stock was sold at an average price of $1,764.42, for a total transaction of $52,932.60. Following the completion of the transaction, the chief accounting officer now owns 846 shares of the company’s stock, valued at approximately $1,492,699.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 70 shares of Alphabet stock in a transaction on Monday, February 8th. The stock was sold at an average price of $2,085.54, for a total value of $145,987.80. Following the transaction, the director now directly owns 41 shares of the company’s stock, valued at approximately $85,507.14. The disclosure for this sale can be found here. Insiders have sold a total of 2,999 shares of company stock valued at $5,434,607 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Profile

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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