Primecap Management Co. CA Sells 162,175 Shares of Alphabet Inc. (NASDAQ:GOOG)

Primecap Management Co. CA cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,738,775 shares of the information services provider’s stock after selling 162,175 shares during the period. Alphabet accounts for 1.4% of Primecap Management Co. CA’s investment portfolio, making the stock its 17th biggest position. Primecap Management Co. CA owned approximately 0.10% of Alphabet worth $1,795,276,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. FMR LLC raised its position in shares of Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after buying an additional 4,348,188 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after buying an additional 9,703,425 shares in the last quarter. Northern Trust Corp raised its position in shares of Alphabet by 2.3% during the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after buying an additional 1,275,060 shares in the last quarter. Norges Bank purchased a new stake in shares of Alphabet during the 4th quarter valued at $4,101,040,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Alphabet by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock valued at $4,058,842,000 after buying an additional 481,376 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the sale, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 205,935 shares of company stock valued at $31,178,987. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.7 %

Alphabet stock traded up $1.27 during trading hours on Friday, reaching $176.33. The stock had a trading volume of 11,400,645 shares, compared to its average volume of 21,919,467. The stock has a market cap of $2.18 trillion, a PE ratio of 27.04, a PEG ratio of 1.32 and a beta of 1.02. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $179.95. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The company has a fifty day simple moving average of $162.27 and a 200-day simple moving average of $148.10.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 EPS. Analysts forecast that Alphabet Inc. will post 7.7 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th.

Analysts Set New Price Targets

A number of brokerages recently commented on GOOG. Stifel Nicolaus lifted their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer lifted their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Finally, Susquehanna lifted their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet has an average rating of “Buy” and an average price target of $165.67.

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.