Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Navis Wealth Advisors LLC

Navis Wealth Advisors LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,602 shares of the information services provider’s stock after selling 128 shares during the period. Alphabet accounts for approximately 1.0% of Navis Wealth Advisors LLC’s portfolio, making the stock its 22nd largest position. Navis Wealth Advisors LLC’s holdings in Alphabet were worth $876,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GOOG. FMR LLC lifted its position in Alphabet by 5.2% during the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after buying an additional 5,655,022 shares in the last quarter. Geode Capital Management LLC raised its position in Alphabet by 0.3% in the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock valued at $17,247,208,000 after purchasing an additional 259,213 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Alphabet by 10.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after buying an additional 3,113,395 shares during the period. Jennison Associates LLC lifted its position in Alphabet by 9.1% during the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock worth $2,578,793,000 after acquiring an additional 1,291,274 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Alphabet by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock worth $1,843,149,000 after acquiring an additional 264,962 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the sale, the chief accounting officer now directly owns 26,349 shares in the company, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,887 shares of company stock valued at $22,470,464 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Pivotal Research boosted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. UBS Group lifted their price target on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.13.

Alphabet Trading Up 1.7 %

NASDAQ:GOOG opened at $197.07 on Wednesday. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $203.84. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business has a 50 day simple moving average of $188.29 and a 200 day simple moving average of $175.13. The firm has a market capitalization of $2.41 trillion, a P/E ratio of 26.14, a P/E/G ratio of 1.27 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 8.02 EPS for the current year.

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.