Factory Mutual Insurance Co. Sells 21,000 Shares of Alphabet Inc. (NASDAQ:GOOG)

Factory Mutual Insurance Co. lessened its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,658,121 shares of the information services provider's stock after selling 21,000 shares during the period. Alphabet comprises 3.4% of Factory Mutual Insurance Co.'s portfolio, making the stock its 6th largest holding. Factory Mutual Insurance Co.'s holdings in Alphabet were worth $315,773,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Weiss Asset Management LP purchased a new position in shares of Alphabet in the third quarter valued at $25,000. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the 4th quarter worth about $27,000. Safe Harbor Fiduciary LLC acquired a new position in Alphabet during the 3rd quarter valued at about $33,000. Sanctuary Wealth Management L.L.C. boosted its position in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider's stock valued at $42,000 after purchasing an additional 117 shares in the last quarter. Finally, Iron Horse Wealth Management LLC boosted its holdings in shares of Alphabet by 32.3% in the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider's stock worth $57,000 after buying an additional 84 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Price Performance

GOOG stock traded up $5.07 during trading on Tuesday, reaching $207.71. The company's stock had a trading volume of 27,728,508 shares, compared to its average volume of 16,760,658. The company's fifty day moving average is $191.14 and its 200-day moving average is $175.71. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $208.70. The company has a market capitalization of $2.54 trillion, a P/E ratio of 27.55, a price-to-earnings-growth ratio of 1.32 and a beta of 1.00. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. On average, research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Barclays raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Citigroup upped their target price on shares of Alphabet from $212.00 to $216.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on Alphabet from $182.00 to $187.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Oppenheimer boosted their price target on Alphabet from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, Pivotal Research boosted their target price on Alphabet from $215.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $209.13.

Insider Activity at Alphabet

In related news, 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 completion of the transaction, the chief executive officer now owns 2,084,306 shares in the company, valued at $369,672,512.16. This represents a 1.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 1,367 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares of the company's stock, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,529 shares of company stock valued at $22,453,483 over the last ninety days. 12.99% of the stock is owned by company insiders.

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.