Glassy Mountain Advisors Inc. Has $8.28 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Glassy Mountain Advisors Inc. decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,727 shares of the information services provider’s stock after selling 1,682 shares during the quarter. Alphabet accounts for approximately 3.4% of Glassy Mountain Advisors Inc.’s holdings, making the stock its 9th largest position. Glassy Mountain Advisors Inc.’s holdings in Alphabet were worth $8,276,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Financial Advisors Network Inc. boosted its stake in Alphabet by 4.5% during the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after buying an additional 7 shares in the last quarter. Turim 21 Investimentos Ltda. boosted its stake in Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after buying an additional 8 shares in the last quarter. West Michigan Advisors LLC boosted its stake in Alphabet by 3.7% during the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after buying an additional 9 shares in the last quarter. Somerville Kurt F boosted its stake in 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 buying an additional 11 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC boosted its stake in Alphabet by 1.4% during the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $3,301,000 after buying an additional 16 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 0.2 %

Shares of Alphabet stock opened at $156.00 on Wednesday. The stock has a 50-day moving average price of $146.95 and a 200 day moving average price of $141.51. The company has a market cap of $1.94 trillion, a P/E ratio of 26.90, a P/E/G ratio of 1.44 and a beta of 1.05. 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 Inc. has a 1 year low of $103.27 and a 1 year high of $161.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.05 EPS. As a group, analysts expect that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 230 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 228,839 shares of company stock valued at $32,835,757. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of several analyst reports. Raymond James upped their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Oppenheimer upped their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus upped their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Susquehanna upped their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet currently has an average rating of “Buy” and a consensus price target of $159.86.

About Alphabet

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.