Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.3% during the 4th quarter, Holdings Channel reports. The firm owned 39,760 shares of the information services provider’s stock after selling 110 shares during the period. Griffin Asset Management Inc.’s holdings in Alphabet were worth $7,572,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. YHB Investment Advisors Inc. grew its holdings in Alphabet by 1.2% during the fourth quarter. YHB Investment Advisors Inc. now owns 149,019 shares of the information services provider’s stock worth $28,379,000 after acquiring an additional 1,823 shares during the period. Warner Financial Inc. bought a new position in shares of Alphabet during the 4th quarter valued at about $203,000. Acorn Creek Capital LLC grew its stake in shares of Alphabet by 1.0% in the 4th quarter. Acorn Creek Capital LLC now owns 6,551 shares of the information services provider’s stock worth $1,248,000 after purchasing an additional 63 shares during the last quarter. Buffington Mohr McNeal lifted its stake in Alphabet by 1.4% during the fourth quarter. Buffington Mohr McNeal now owns 55,172 shares of the information services provider’s stock valued at $10,507,000 after purchasing an additional 760 shares during the last quarter. Finally, Joseph P. Lucia & Associates LLC lifted its stake in Alphabet by 8.6% during the fourth quarter. Joseph P. Lucia & Associates LLC now owns 3,446 shares of the information services provider’s stock valued at $656,000 after purchasing an additional 272 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

GOOG opened at $202.63 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $203.84. The stock has a fifty day moving average price of $189.03 and a 200 day moving average price of $175.35. The stock has a market cap of $2.48 trillion, a price-to-earnings ratio of 26.87, a PEG ratio of 1.27 and a beta of 0.99.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on GOOG. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. JPMorgan Chase & Co. upped their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $206.69.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the sale, the chief accounting officer now owns 17,847 shares in the company, valued at approximately $3,468,029.04. This represents a 13.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the transaction, the director now directly owns 21,824 shares in the company, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,630 shares of company stock worth $22,258,133 over the last ninety days. 12.99% of the stock is currently owned by insiders.

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.