AFS Financial Group LLC Sells 9,769 Shares of Alphabet Inc. (NASDAQ:GOOG)

AFS Financial Group LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 60.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,431 shares of the information services provider’s stock after selling 9,769 shares during the period. Alphabet makes up 0.9% of AFS Financial Group LLC’s portfolio, making the stock its 19th largest position. AFS Financial Group LLC’s holdings in Alphabet were worth $906,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC increased its position in shares of Alphabet by 61,587.1% in the fourth 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 acquiring an additional 129,835,437 shares during the period. FMR LLC increased its position in shares of Alphabet by 3.8% in the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after acquiring an additional 4,348,188 shares during the period. JPMorgan Chase & Co. increased its position in shares of Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after acquiring an additional 9,703,425 shares during the period. Morgan Stanley increased its position in shares of Alphabet by 37.6% in the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock valued at $6,368,961,000 after acquiring an additional 19,612,974 shares during the period. Finally, Northern Trust Corp increased its position in shares of Alphabet by 2.3% in the third quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after acquiring an additional 1,275,060 shares during the period. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Susquehanna boosted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Raymond James boosted their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $146.33.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $143.49, for a total value of $28,698.00. Following the sale, the director now owns 6,784 shares in the company, valued at $973,436.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $143.49, for a total value of $28,698.00. Following the sale, the director now owns 6,784 shares in the company, valued at $973,436.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 250,739 shares of company stock worth $35,934,957. 12.99% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $153.94 on Friday. Alphabet Inc. has a 1 year low of $103.27 and a 1 year high of $157.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The company’s 50-day moving average is $145.39 and its 200 day moving average is $140.16. The stock has a market capitalization of $1.91 trillion, a P/E ratio of 26.54, a P/E/G ratio of 1.44 and a beta of 1.05.

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. The company had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. Alphabet’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.05 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 6.77 earnings per share for the current year.

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