Alphabet Inc. (NASDAQ:GOOG) Stake Reduced by Strs Ohio

Strs Ohio trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,697,256 shares of the information services provider’s stock after selling 152,987 shares during the quarter. Alphabet comprises about 1.6% of Strs Ohio’s holdings, making the stock its 6th biggest holding. Strs Ohio’s holdings in Alphabet were worth $380,124,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GOOG. Grove Bank & Trust boosted its holdings in shares of Alphabet by 7.7% during the 4th quarter. Grove Bank & Trust now owns 42,277 shares of the information services provider’s stock valued at $5,958,000 after acquiring an additional 3,029 shares during the last quarter. Bear Mountain Capital Inc. purchased a new stake in shares of Alphabet during the 4th quarter valued at about $324,000. PCG Wealth Advisors LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at about $243,000. Beverly Hills Private Wealth LLC boosted its holdings in shares of Alphabet by 22.3% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 14,329 shares of the information services provider’s stock valued at $2,019,000 after acquiring an additional 2,609 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Alphabet by 7.1% during the 4th quarter. Vontobel Holding Ltd. now owns 1,418,275 shares of the information services provider’s stock valued at $199,877,000 after acquiring an additional 94,101 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the sale, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the sale, the director now owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 228,839 shares of company stock worth $32,835,757. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Alphabet Price Performance

NASDAQ GOOG opened at $156.00 on Wednesday. Alphabet Inc. has a 12 month low of $103.27 and a 12 month high of $161.70. The stock has a market cap of $1.94 trillion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.44 and a beta of 1.05. The company’s 50 day moving average is $146.95 and its two-hundred day moving average is $141.51. 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 released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company 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 EPS. The firm’s revenue was up 13.5% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current year.

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.