Davidson Investment Advisors Trims Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Davidson Investment Advisors cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 527,039 shares of the information services provider’s stock after selling 396 shares during the period. Alphabet makes up approximately 4.0% of Davidson Investment Advisors’ investment portfolio, making the stock its 4th largest holding. Davidson Investment Advisors’ holdings in Alphabet were worth $63,756,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. Financial Advisors Network Inc. increased its position in shares of Alphabet by 4.5% during the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after purchasing an additional 7 shares in the last quarter. Turim 21 Investimentos Ltda. increased its position in shares of Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after purchasing an additional 8 shares in the last quarter. West Michigan Advisors LLC increased its position in shares of Alphabet by 3.7% during the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock worth $704,000 after purchasing an additional 9 shares in the last quarter. Somerville Kurt F increased its position in shares of Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after purchasing an additional 11 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC increased its position in shares of Alphabet by 1.4% during the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after purchasing an additional 16 shares in the last quarter. 27.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $133.82, for a total value of $2,152,227.06. Following the sale, the senior vice president now owns 75,621 shares of the company’s stock, valued at approximately $10,119,602.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $132.92, for a total value of $26,584.00. Following the transaction, the director now owns 7,184 shares in the company, valued at approximately $954,897.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $133.82, for a total value of $2,152,227.06. Following the completion of the transaction, the senior vice president now owns 75,621 shares in the company, valued at approximately $10,119,602.22. The disclosure for this sale can be found here. Insiders have sold 176,576 shares of company stock valued at $23,425,367 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on GOOG. Wedbush began coverage on Alphabet in a research report on Monday, August 21st. They set an “outperform” rating for the company. Susquehanna upped their target price on Alphabet from $120.00 to $150.00 in a report on Wednesday, July 26th. Robert W. Baird upped their target price on Alphabet from $123.00 to $140.00 in a report on Wednesday, July 26th. Finally, Oppenheimer restated an “outperform” rating and issued a $160.00 target price on shares of Alphabet in a report on Wednesday, October 25th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $130.69.

Alphabet Trading Up 1.0 %

GOOG traded up $1.33 during mid-day trading on Monday, hitting $138.27. 10,982,217 shares of the stock were exchanged, compared to its average volume of 25,875,609. The firm’s fifty day moving average is $134.60 and its two-hundred day moving average is $128.47. Alphabet Inc. has a 1-year low of $85.57 and a 1-year high of $142.38. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.73 trillion, a PE ratio of 26.07, a PEG ratio of 1.53 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.10. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. The firm had revenue of $64.05 billion for the quarter, compared to analyst estimates of $63.13 billion. Equities analysts forecast that Alphabet Inc. will post 5.74 earnings per share for the current fiscal year.

Alphabet Company 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.