Alphabet Inc. (NASDAQ:GOOG) Stock Position Reduced by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,545 shares of the information services provider’s stock after selling 855 shares during the quarter. Alphabet makes up approximately 0.8% of Patriot Financial Group Insurance Agency LLC’s holdings, making the stock its 25th largest position. Patriot Financial Group Insurance Agency LLC’s holdings in Alphabet were worth $5,627,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. M&G PLC bought a new position in shares of Alphabet during the third quarter valued at approximately $2,240,000. Coldstream Capital Management Inc. boosted its position in Alphabet by 14.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock valued at $19,642,000 after purchasing an additional 14,738 shares during the period. Metis Global Partners LLC grew its stake in Alphabet by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after buying an additional 4,292 shares during the last quarter. Requisite Capital Management LLC acquired a new stake in Alphabet in the fourth quarter worth $927,000. Finally, Stevens Capital Management LP lifted its stake in Alphabet by 172.9% in the third quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock valued at $15,254,000 after buying an additional 57,810 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 1.5 %

GOOG stock opened at $205.60 on Friday. The firm has a market cap of $2.52 trillion, a PE ratio of 27.27, a P/E/G ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $207.08. 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 firm has a 50 day simple moving average of $189.70 and a 200 day simple moving average of $175.54.

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

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the sale, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. This represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,630 shares of company stock valued at $22,258,133 over the last three months. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GOOG shares. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Pivotal Research raised their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group boosted their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer raised their target price on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Wells Fargo & Company boosted their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

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.