Keel Point LLC Sells 677 Shares of Alphabet Inc. (NASDAQ:GOOG)

Keel Point LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 6.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,465 shares of the information services provider’s stock after selling 677 shares during the period. Keel Point LLC’s holdings in Alphabet were worth $1,334,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOG. Financial Advisors Network Inc. raised its stake in Alphabet by 4.5% in 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 during the last quarter. Turim 21 Investimentos Ltda. increased its holdings 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 valued at $229,000 after acquiring an additional 8 shares in the last quarter. West Michigan Advisors LLC raised its position in shares of Alphabet by 3.7% in the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after purchasing an additional 9 shares during the last quarter. Somerville Kurt F boosted its stake in Alphabet by 10.3% in the 1st 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 grew its position in Alphabet by 1.4% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $156.88 on Thursday. 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 twelve month low of $103.27 and a twelve month high of $161.70. The stock has a 50-day moving average of $147.15 and a 200 day moving average of $141.61. The stock has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.44 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. During the same quarter last year, the firm posted $1.05 EPS. The business’s revenue was up 13.5% on a year-over-year basis. Sell-side analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on GOOG. Susquehanna raised their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Oppenheimer raised their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Raymond James lifted their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Stifel Nicolaus increased their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $159.86.

Insider Buying and Selling

In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the company’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 directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 251,339 shares of company stock worth $36,377,482. Insiders own 12.99% of the company’s stock.

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.