Pflug Koory LLC Sells 2,010 Shares of Alphabet Inc. (NASDAQ:GOOG)

Pflug Koory LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 68.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 919 shares of the information services provider's stock after selling 2,010 shares during the quarter. Pflug Koory LLC's holdings in Alphabet were worth $175,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. 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 worth $19,193,768,000 after purchasing an additional 5,655,022 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Alphabet by 10.3% in 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. Assenagon Asset Management S.A. raised its position in shares of Alphabet by 65.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider's stock valued at $1,052,349,000 after buying an additional 2,500,621 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Alphabet by 182.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider's stock worth $422,331,000 after acquiring an additional 1,630,701 shares during the period. Finally, Jennison Associates LLC boosted its position in shares of 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. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent analyst reports. Canaccord Genuity Group upped their target price on Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Barclays lifted their target price on Alphabet from $200.00 to $220.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. 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 lifted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $208.00 to $212.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $205.13.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 441 shares of the firm's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 16,820 shares of the company's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,387 shares of company stock valued at $24,368,654. Corporate insiders own 12.99% of the company's stock.

Alphabet Trading Down 4.1 %

GOOG stock traded down $8.27 during trading on Monday, hitting $193.64. The company had a trading volume of 24,901,199 shares, compared to its average volume of 16,532,055. 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 one year low of $131.55 and a one year high of $203.84. The business has a 50-day moving average of $187.95 and a 200-day moving average of $175.08. The stock has a market cap of $2.37 trillion, a PE ratio of 25.68, a PEG ratio of 1.27 and a beta of 0.99.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts' expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Alphabet's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.55 earnings per share. Research analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal 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.