Verum Partners LLC Sells 348 Shares of Alphabet Inc. (NASDAQ:GOOG)

Verum Partners LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,574 shares of the information services provider’s stock after selling 348 shares during the quarter. Verum Partners LLC’s holdings in Alphabet were worth $786,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Pettinga Financial Advisors LLC boosted its stake in shares of Alphabet by 6.1% in the fourth quarter. Pettinga Financial Advisors LLC now owns 11,420 shares of the information services provider’s stock valued at $1,609,000 after buying an additional 660 shares during the period. Kaizen Financial Strategies raised its holdings in Alphabet by 1.2% in the 4th quarter. Kaizen Financial Strategies now owns 21,790 shares of the information services provider’s stock valued at $3,071,000 after acquiring an additional 266 shares in the last quarter. Hill Island Financial LLC lifted its position in shares of Alphabet by 8.0% during the 4th quarter. Hill Island Financial LLC now owns 9,380 shares of the information services provider’s stock valued at $1,322,000 after acquiring an additional 696 shares during the period. Well Done LLC grew its holdings in shares of Alphabet by 5.9% during the 4th quarter. Well Done LLC now owns 4,163 shares of the information services provider’s stock worth $587,000 after purchasing an additional 232 shares in the last quarter. Finally, WASHINGTON TRUST Co increased its position in shares of Alphabet by 4.1% in the fourth quarter. WASHINGTON TRUST Co now owns 29,012 shares of the information services provider’s stock worth $4,089,000 after purchasing an additional 1,149 shares during the period. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GOOG shares. Susquehanna upped their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Raymond James increased their price target on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet has an average rating of “Buy” and a consensus target price of $146.33.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 16,088 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $139.10, for a total transaction of $2,237,840.80. Following the sale, the senior vice president now owns 52,440 shares in the company, valued at approximately $7,294,404. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 20th. The shares were 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 directly owns 2,310,191 shares in the company, valued at approximately $343,710,216.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 16,088 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 52,440 shares of the company’s stock, valued at $7,294,404. The disclosure for this sale can be found here. In the last ninety days, insiders sold 251,138 shares of company stock worth $35,427,655. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $152.26 on Friday. The stock has a market cap of $1.89 trillion, a PE ratio of 26.25, a P/E/G ratio of 1.40 and a beta of 1.05. 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 Inc. has a 12-month low of $100.29 and a 12-month high of $155.20. The business’s 50-day moving average price is $144.75 and its two-hundred day moving average price is $139.39.

Alphabet (NASDAQ:GOOG) last announced 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. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. During the same period in the previous year, the firm posted $1.05 EPS. The firm’s revenue was up 13.5% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 6.77 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.