Alphabet Inc. (NASDAQ:GOOG) is Cercano Management LLC’s 8th Largest Position

Cercano Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 17.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 463,591 shares of the information services provider’s stock after selling 100,202 shares during the quarter. Alphabet accounts for about 2.2% of Cercano Management LLC’s portfolio, making the stock its 8th largest holding. Cercano Management LLC’s holdings in Alphabet were worth $65,334,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Tandem Wealth Advisors LLC acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $28,000. Buck Wealth Strategies LLC acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $32,000. Finally, Barometer Capital Management Inc. acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction 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 transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction 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 transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders have sold a total of 253,439 shares of company stock valued at $36,746,578 in the last 90 days. 12.99% of the stock is owned by insiders.

Alphabet Price Performance

GOOG traded up $15.74 on Friday, hitting $173.69. 56,500,787 shares of the company’s stock were exchanged, compared to its average volume of 18,324,858. Alphabet Inc. has a fifty-two week low of $104.42 and a fifty-two week high of $176.42. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $149.12 and a 200-day moving average price of $142.77. The stock has a market cap of $2.16 trillion, a price-to-earnings ratio of 26.64, a P/E/G ratio of 1.60 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter in the previous year, the company posted $1.17 EPS. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. As a group, equities analysts anticipate that Alphabet Inc. will post 6.8 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus raised their price objective 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. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Raymond James lifted their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna lifted their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Finally, Oppenheimer lifted their price target 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet currently has an average rating of “Buy” and a consensus target price of $165.67.

About Alphabet

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.