Schnieders Capital Management LLC Sells 14,500 Shares of Alphabet Inc. (NASDAQ:GOOG)

Schnieders Capital Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 12.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,649 shares of the information services provider’s stock after selling 14,500 shares during the period. Alphabet comprises approximately 3.3% of Schnieders Capital Management LLC’s holdings, making the stock its 5th largest holding. Schnieders Capital Management LLC’s holdings in Alphabet were worth $14,748,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Everence Capital Management Inc. grew its holdings in Alphabet by 0.7% during the 3rd quarter. Everence Capital Management Inc. now owns 124,950 shares of the information services provider’s stock worth $16,475,000 after acquiring an additional 830 shares during the period. Arkfeld Wealth Strategies L.L.C. increased its holdings in Alphabet by 15.0% in the third quarter. Arkfeld Wealth Strategies L.L.C. now owns 19,808 shares of the information services provider’s stock valued at $2,757,000 after purchasing an additional 2,580 shares during the last quarter. Essex LLC increased its holdings in Alphabet by 6.3% in the third quarter. Essex LLC now owns 29,660 shares of the information services provider’s stock valued at $3,911,000 after purchasing an additional 1,768 shares during the last quarter. Capital Investment Advisors LLC lifted its stake in Alphabet by 14.1% in the third quarter. Capital Investment Advisors LLC now owns 28,953 shares of the information services provider’s stock valued at $3,817,000 after buying an additional 3,573 shares during the period. Finally, Onyx Bridge Wealth Group LLC boosted its holdings in Alphabet by 1.1% during the third quarter. Onyx Bridge Wealth Group LLC now owns 22,332 shares of the information services provider’s stock worth $2,944,000 after buying an additional 234 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 2.0 %

GOOG opened at $157.95 on Friday. The company has a market cap of $1.96 trillion, a P/E ratio of 27.23, a P/E/G ratio of 1.48 and a beta of 1.05. Alphabet Inc. has a 12 month low of $103.27 and a 12 month high of $161.70. The business’s 50-day moving average price is $148.48 and its 200-day moving average price is $142.51. 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 (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same period last year, the business posted $1.17 earnings per share. Alphabet’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, equities analysts expect that Alphabet Inc. will post 6.79 EPS for the current year.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The stock was 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 of the company’s stock, valued at approximately $2,326,922.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related 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 transaction of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 251,339 shares of company stock worth $36,377,482. 12.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GOOG shares. Oppenheimer upped their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus upped their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Susquehanna lifted their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Morgan Stanley restated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Finally, Raymond James raised 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $159.86.

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.