Soltis Investment Advisors LLC Has $2.33 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Soltis Investment Advisors LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 64.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,501 shares of the information services provider’s stock after selling 29,406 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Alphabet were worth $2,326,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GOOG. Moneta Group Investment Advisors LLC raised its stake in shares of 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 purchasing an additional 129,835,437 shares in the last quarter. Bank of New York Mellon Corp raised its stake 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 worth $5,487,226,000 after purchasing an additional 54,077,519 shares in the last quarter. Norges Bank purchased a new stake in shares of Alphabet during the 4th quarter worth about $3,059,614,000. Morgan Stanley raised its stake 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 purchasing an additional 19,612,974 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after purchasing an additional 9,703,425 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GOOG. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research note on Thursday. Raymond James raised their price objective on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Oppenheimer raised their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, Susquehanna raised their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $157.50.

Alphabet Price Performance

Shares of GOOG stock opened at $159.19 on Friday. The stock’s fifty day simple moving average is $146.51 and its 200 day simple moving average is $141.02. 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 firm has a market cap of $1.98 trillion, a price-to-earnings ratio of 27.45, a P/E/G ratio of 1.48 and a beta of 1.05. Alphabet Inc. has a one year low of $103.27 and a one year high of $161.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data 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 return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. During the same quarter in the previous year, the company posted $1.05 EPS. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the completion of the sale, the chief executive officer now owns 2,400,191 shares in the company, valued at $341,163,148.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 250,539 shares of company stock worth $35,906,259. 12.99% of the stock is currently owned by insiders.

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.