Violich Capital Management Inc. Lowers Holdings in Alphabet Inc. (NASDAQ:GOOG)

Violich Capital Management Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 346,955 shares of the information services provider’s stock after selling 1,065 shares during the period. Alphabet makes up approximately 7.9% of Violich Capital Management Inc.’s holdings, making the stock its 3rd largest holding. Violich Capital Management Inc.’s holdings in Alphabet were worth $48,896,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. DC Investments Management LLC acquired a new stake in Alphabet during the first quarter valued at approximately $115,000. Guardian Wealth Management Inc. acquired a new stake in Alphabet during the first quarter valued at approximately $184,000. Turim 21 Investimentos Ltda. boosted its holdings in Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after purchasing an additional 8 shares in the last quarter. qPULA Trading Management LP acquired a new stake in Alphabet during the first quarter valued at approximately $279,000. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in Alphabet by 29.2% during the first quarter. Dynamic Technology Lab Private Ltd now owns 115 shares of the information services provider’s stock valued at $321,000 after purchasing an additional 26 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the transaction, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the transaction, the chief executive officer now directly owns 2,325,513 shares in the company, valued at $362,012,608.71. The disclosure for this sale can be found here. Insiders have sold a total of 250,539 shares of company stock valued at $35,906,259 in the last three months. 12.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $159.19 on Friday. The firm has a market cap of $1.98 trillion, a PE ratio of 27.45, a PEG ratio of 1.48 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1-year low of $103.27 and a 1-year high of $161.70. The company has a fifty day moving average price of $146.51 and a 200 day moving average price of $141.02.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $85.28 billion. During the same period in the prior year, the business posted $1.05 EPS. The company’s quarterly revenue was up 13.5% on a year-over-year basis. Research analysts predict that Alphabet Inc. will post 6.78 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.