Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Invesco LLC

Invesco LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,544 shares of the information services provider’s stock after selling 4,831 shares during the period. Alphabet makes up 7.6% of Invesco LLC’s investment portfolio, making the stock its largest holding. Invesco LLC’s holdings in Alphabet were worth $16,284,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. DC Investments Management LLC acquired a new position in Alphabet during the first quarter worth about $115,000. Guardian Wealth Management Inc. acquired a new position in Alphabet during the first quarter worth about $184,000. Turim 21 Investimentos Ltda. raised its position in shares of Alphabet by 10.8% in 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 during the last quarter. qPULA Trading Management LP purchased a new position in shares of Alphabet during the first quarter valued at approximately $279,000. Finally, Dynamic Technology Lab Private Ltd boosted its position in Alphabet by 29.2% during the first quarter. Dynamic Technology Lab Private Ltd now owns 115 shares of the information services provider’s stock worth $321,000 after acquiring an additional 26 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 0.6 %

GOOG stock opened at $156.88 on Thursday. The company has a market cap of $1.95 trillion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.44 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $147.15 and a 200-day simple moving average of $141.61. Alphabet Inc. has a 52 week low of $103.27 and a 52 week high of $161.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data 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. The business 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 firm posted $1.05 EPS. On average, equities research analysts expect that Alphabet Inc. will post 6.78 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, 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 filing with the SEC, which can be accessed 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 shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The disclosure for this sale can be found here. In the last three months, insiders sold 251,339 shares of company stock valued at $36,377,482. Company insiders own 12.99% of the company’s stock.

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.