Stonegate Investment Group LLC Sells 1,488 Shares of Alphabet Inc. (NASDAQ:GOOG)

Stonegate Investment Group LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 7.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,519 shares of the information services provider's stock after selling 1,488 shares during the period. Stonegate Investment Group LLC's holdings in Alphabet were worth $3,527,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. M&G PLC bought a new position in shares of Alphabet during the 3rd quarter valued at approximately $2,240,000. Coldstream Capital Management Inc. grew its holdings in Alphabet by 14.4% during the third 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 increased its position in Alphabet by 1.4% in the third 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 bought a new stake in shares of Alphabet in the fourth quarter valued at $927,000. Finally, Stevens Capital Management LP lifted its position in shares of Alphabet by 172.9% during the 3rd 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 hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent research reports. UBS Group lifted their price objective on Alphabet from $187.00 to $192.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. Wedbush reaffirmed an "outperform" rating and issued a $220.00 price objective on shares of Alphabet in a report on Thursday. Scotiabank boosted their target price on shares of Alphabet from $212.00 to $240.00 and gave the company a "sector outperform" rating in a report on Friday, January 24th. Finally, Barclays raised their price target on Alphabet from $200.00 to $220.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $209.13.

Insider Activity

In related news, CAO Amie Thuener O'toole sold 1,367 shares of Alphabet stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frances Arnold sold 441 shares of the company's stock in a transaction dated Monday, November 4th. The shares were 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 of the company's stock, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,630 shares of company stock worth $22,258,133. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

GOOG stock opened at $205.60 on Friday. The firm has a 50 day simple moving average of $189.70 and a two-hundred day simple moving average of $175.54. 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 stock 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 one year low of $131.55 and a one year high of $207.08.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results 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. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion for the quarter, compared to analysts' expectations of $86.39 billion. During the same quarter in the prior year, the firm earned $1.55 earnings per share. The firm's revenue was up 15.1% on a year-over-year basis. On average, analysts predict that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet 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.

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