Abbrea Capital LLC Decreases Position in Alphabet Inc. (NASDAQ:GOOG)

Abbrea Capital LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 0.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 45,893 shares of the information services provider’s stock after selling 77 shares during the period. Alphabet accounts for approximately 0.9% of Abbrea Capital LLC’s portfolio, making the stock its 26th largest holding. Abbrea Capital LLC’s holdings in Alphabet were worth $6,468,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GOOG. Bruce G. Allen Investments LLC bought a new position in Alphabet in the 4th quarter valued at $26,000. Tandem Wealth Advisors LLC purchased a new position in shares of Alphabet in the 3rd quarter worth about $25,000. Equitec Proprietary Markets LLC bought a new position in Alphabet during the fourth quarter valued at approximately $28,000. Buck Wealth Strategies LLC bought a new position in shares of Alphabet during the 3rd quarter valued at $32,000. Finally, Barometer Capital Management Inc. bought a new position in shares of Alphabet during the third quarter valued at about $32,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 10.0 %

Alphabet stock opened at $173.69 on Friday. The stock has a market cap of $2.16 trillion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a fifty day moving average of $149.12 and a 200 day moving average of $142.75. Alphabet Inc. has a one year low of $104.42 and a one year high of $176.42.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.17 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 6.79 EPS for the current year.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Frances Arnold sold 230 shares of the company’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 transaction of $35,433.80. Following the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now directly owns 5,891 shares in the company, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 253,439 shares of company stock valued at $36,746,578. 12.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOG has been the topic of several analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Raymond James increased their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Susquehanna increased their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Oppenheimer lifted their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus upped their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet has an average rating of “Buy” and an average target price of $165.67.

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.