Alphabet Inc. (NASDAQ:GOOG) Stake Cut by Ramsay Stattman Vela & Price Inc.

Ramsay Stattman Vela & Price Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 114,754 shares of the information services provider’s stock after selling 2,316 shares during the quarter. Alphabet comprises approximately 3.6% of Ramsay Stattman Vela & Price Inc.’s portfolio, making the stock its 5th biggest position. Ramsay Stattman Vela & Price Inc.’s holdings in Alphabet were worth $19,186,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital International Investors grew its position in Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after purchasing an additional 7,470,042 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Alphabet by 19.7% during the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after buying an additional 13,876,534 shares during the period. Capital World Investors grew its holdings in shares of Alphabet by 2.2% during the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after buying an additional 979,083 shares during the last quarter. Capital Research Global Investors increased its position in shares of Alphabet by 2.0% in the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after acquiring an additional 684,968 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Alphabet by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after acquiring an additional 636,008 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the transaction, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Monday, October 14th. The shares were sold at an average price of $164.95, for a total transaction of $247,425.00. Following the completion of the sale, the director now directly owns 26,324 shares in the company, valued at $4,342,143.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock worth $35,993,340 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.7 %

GOOG stock opened at $171.14 on Wednesday. Alphabet Inc. has a one year low of $123.88 and a one year high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm’s fifty day moving average is $163.39 and its 200 day moving average is $170.26. The firm has a market cap of $2.11 trillion, a PE ratio of 26.25, a P/E/G ratio of 1.27 and a beta of 1.04.

Wall Street Analyst Weigh In

GOOG has been the topic of several research analyst reports. Pivotal Research started coverage on Alphabet in a research note on Tuesday, October 1st. They set a “buy” rating and a $215.00 price target on the stock. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. UBS Group decreased their price objective on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research note on Monday, October 7th. TD Cowen increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Oppenheimer decreased their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $186.90.

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.