Cedar Brook Financial Partners LLC Sells 397 Shares of Alphabet Inc. (NASDAQ:GOOG)

Cedar Brook Financial Partners LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,426 shares of the information services provider’s stock after selling 397 shares during the quarter. Cedar Brook Financial Partners LLC’s holdings in Alphabet were worth $2,713,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC grew its stake in Alphabet by 61,587.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after buying an additional 129,835,437 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Alphabet by 1,807.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock valued at $5,487,226,000 after purchasing an additional 54,077,519 shares in the last quarter. Norges Bank bought a new stake in shares of Alphabet during the 4th quarter worth $3,059,614,000. GQG Partners LLC bought a new stake in shares of Alphabet during the 1st quarter worth $2,170,024,000. Finally, Morgan Stanley lifted its holdings in shares of Alphabet by 37.6% during the 4th quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after acquiring an additional 19,612,974 shares during the last quarter. Institutional investors own 27.13% of the company’s stock.

Alphabet Trading Up 1.1 %

Shares of NASDAQ GOOG opened at $138.99 on Friday. The firm’s 50 day moving average price is $129.49 and its 200-day moving average price is $117.63. The company has a market cap of $1.75 trillion, a PE ratio of 29.45, a P/E/G ratio of 1.58 and a beta of 1.06. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $139.55. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.12. The firm had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.21 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 5.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GOOG shares. Wedbush assumed coverage on shares of Alphabet in a research note on Monday, August 21st. They issued an “outperform” rating for the company. Susquehanna boosted their price objective on shares of Alphabet from $120.00 to $150.00 in a research report on Wednesday, July 26th. Oppenheimer boosted their price objective on shares of Alphabet from $145.00 to $160.00 in a research report on Wednesday, July 26th. Finally, Robert W. Baird boosted their price objective on shares of Alphabet from $123.00 to $140.00 in a research report on Wednesday, July 26th. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet has a consensus rating of “Buy” and a consensus target price of $130.94.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $137.30, for a total value of $27,460.00. Following the transaction, the director now directly owns 7,584 shares in the company, valued at $1,041,283.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 3,749 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the sale, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $137.30, for a total transaction of $27,460.00. Following the completion of the sale, the director now directly owns 7,584 shares of the company’s stock, valued at $1,041,283.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 133,497 shares of company stock worth $12,785,260. Company insiders own 12.99% of the company’s stock.

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.