Alphabet Inc. (NASDAQ:GOOG) is Davidson Investment Advisors’ 4th Largest Position

Davidson Investment Advisors lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.1% in the second quarter, HoldingsChannel reports. The firm owned 527,039 shares of the information services provider’s stock after selling 396 shares during the period. Alphabet comprises about 4.0% of Davidson Investment Advisors’ portfolio, making the stock its 4th largest holding. Davidson Investment Advisors’ holdings in Alphabet were worth $63,756,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Alphabet by 94,153.5% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 200,558,295 shares of the information services provider’s stock worth $24,261,537,000 after buying an additional 200,345,509 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in Alphabet by 61,587.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after buying an additional 129,835,437 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in 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 worth $5,487,226,000 after buying an additional 54,077,519 shares during the last quarter. Norges Bank bought a new position in Alphabet during the 4th quarter worth approximately $3,059,614,000. Finally, GQG Partners LLC bought a new position in Alphabet during the 1st quarter worth approximately $2,170,024,000. Hedge funds and other institutional investors own 27.13% of the company’s stock.

Alphabet Stock Up 1.0 %

NASDAQ GOOG traded up $1.33 during trading on Monday, hitting $138.27. 10,982,217 shares of the company traded hands, compared to its average volume of 25,875,609. Alphabet Inc. has a 12 month low of $85.57 and a 12 month high of $142.38. The business has a fifty day simple moving average of $134.60 and a 200 day simple moving average of $128.47. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.73 trillion, a P/E ratio of 26.07, a PEG ratio of 1.53 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.10. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. The company had revenue of $64.05 billion for the quarter, compared to analyst estimates of $63.13 billion. As a group, sell-side analysts predict that Alphabet Inc. will post 5.74 EPS for the current year.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $139.93, for a total value of $27,986.00. Following the transaction, the director now directly owns 7,384 shares in the company, valued at $1,033,243.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 3,749 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total value of $510,913.72. Following the transaction, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at approximately $3,484,407.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $139.93, for a total transaction of $27,986.00. Following the completion of the transaction, the director now owns 7,384 shares of the company’s stock, valued at approximately $1,033,243.12. The disclosure for this sale can be found here. Insiders have sold a total of 176,576 shares of company stock worth $23,425,367 over the last three months. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GOOG. Oppenheimer reaffirmed an “outperform” rating and set a $160.00 target price on shares of Alphabet in a report on Wednesday, October 25th. Susquehanna raised their price target on Alphabet from $120.00 to $150.00 in a report on Wednesday, July 26th. Wedbush started coverage on Alphabet in a report on Monday, August 21st. They issued an “outperform” rating on the stock. Finally, Robert W. Baird raised their price target on Alphabet from $123.00 to $140.00 in a report on Wednesday, July 26th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $130.69.

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.