Smith Chas P & Associates PA Cpas Sells 7,112 Shares of Alphabet Inc. (NASDAQ:GOOG)

Smith Chas P & Associates PA Cpas trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 454,812 shares of the information services provider’s stock after selling 7,112 shares during the quarter. Alphabet comprises about 5.0% of Smith Chas P & Associates PA Cpas’ holdings, making the stock its 4th biggest position. Smith Chas P & Associates PA Cpas’ holdings in Alphabet were worth $86,614,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. M&G PLC acquired a new stake in Alphabet in the 3rd quarter valued at $2,240,000. Coldstream Capital Management Inc. lifted its stake in shares of Alphabet by 14.4% in the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock valued at $19,642,000 after buying an additional 14,738 shares in the last quarter. Metis Global Partners LLC grew its holdings in shares of Alphabet by 1.4% during the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after buying an additional 4,292 shares during the last quarter. Stevens Capital Management LP increased its position in shares of Alphabet by 172.9% during the third quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock worth $15,254,000 after acquiring an additional 57,810 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in shares of Alphabet by 10.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock worth $10,624,000 after acquiring an additional 5,892 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 16,820 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,887 shares of company stock worth $22,470,464 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GOOG has been the subject of a number of recent research reports. Pivotal Research boosted their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group upped their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Oppenheimer raised their price objective on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. UBS Group upped their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.13.

Alphabet Price Performance

Alphabet stock opened at $197.07 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The business’s 50 day simple moving average is $188.29 and its 200 day simple moving average is $175.13. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $203.84. The company has a market cap of $2.41 trillion, a price-to-earnings ratio of 26.14, a PEG ratio of 1.27 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter last year, the firm posted $1.55 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 8.02 EPS 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.