Portside Wealth Group LLC Trims Stake in Alphabet Inc. (NASDAQ:GOOG)

Portside Wealth Group LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 8.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 68,165 shares of the information services provider’s stock after selling 6,410 shares during the period. Alphabet makes up 1.8% of Portside Wealth Group LLC’s holdings, making the stock its 6th largest position. Portside Wealth Group LLC’s holdings in Alphabet were worth $9,606,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOG. Financial Advisors Network Inc. raised its position in shares of Alphabet by 4.5% in the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after acquiring an additional 7 shares during the period. Turim 21 Investimentos Ltda. increased its position in shares of Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after buying an additional 8 shares in the last quarter. West Michigan Advisors LLC increased its position in shares of Alphabet by 3.7% in the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after buying an additional 9 shares in the last quarter. Somerville Kurt F raised its stake in Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after buying an additional 11 shares during the period. Finally, Stonebridge Capital Advisors LLC lifted its holdings in Alphabet by 1.4% during the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after acquiring an additional 16 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the sale, the chief executive officer now owns 2,310,191 shares in the company, valued at approximately $343,710,216.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the transaction, the chief executive officer now owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 16,088 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $139.10, for a total transaction of $2,237,840.80. Following the completion of the sale, the senior vice president now directly owns 52,440 shares in the company, valued at $7,294,404. The disclosure for this sale can be found here. Insiders sold a total of 279,659 shares of company stock worth $39,460,310 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 2.0 %

NASDAQ:GOOG opened at $151.77 on Monday. The company has a market cap of $1.89 trillion, a P/E ratio of 26.17, a price-to-earnings-growth ratio of 1.40 and a beta of 1.05. Alphabet Inc. has a twelve month low of $100.28 and a twelve month high of $155.20. The business has a 50 day moving average price of $144.27 and a two-hundred day moving average price of $139.09. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company’s revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 EPS. As a group, analysts expect that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GOOG. Susquehanna raised their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Raymond James lifted their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and a consensus price target of $146.33.

View Our Latest Stock Report on Alphabet

Alphabet Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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