Carnegie Capital Asset Management LLC Sells 266 Shares of Alphabet Inc. (NASDAQ:GOOG)

Carnegie Capital Asset Management LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 253,946 shares of the information services provider’s stock after selling 266 shares during the period. Alphabet makes up about 1.2% of Carnegie Capital Asset Management LLC’s investment portfolio, making the stock its 14th largest holding. Carnegie Capital Asset Management LLC’s holdings in Alphabet were worth $35,789,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Totem Point Management LLC grew its position in Alphabet by 22.0% in the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after purchasing an additional 571 shares in the last quarter. Somerville Kurt F grew its position in Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after purchasing an additional 11 shares in the last quarter. BCK Partners Inc. bought a new position in Alphabet in the first quarter valued at $2,564,000. Hall Capital Management Co. Inc. grew its position in Alphabet by 53.2% in the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after purchasing an additional 50 shares in the last quarter. Finally, Fairfield Bush & CO. grew its position in Alphabet by 6.8% in the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after purchasing an additional 214 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the sale, the director now owns 7,991 shares in the company, valued at approximately $1,275,043.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the sale, the director now owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 228,839 shares of company stock worth $32,835,757. 12.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GOOG shares. Susquehanna raised their target price 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. Oppenheimer raised their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus increased their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Raymond James increased 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $159.86.

Alphabet Stock Performance

Shares of GOOG stock opened at $156.00 on Wednesday. The stock has a market cap of $1.94 trillion, a P/E ratio of 26.90, a P/E/G ratio of 1.44 and a beta of 1.05. 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 has a fifty day moving average price of $146.95 and a two-hundred day moving average price of $141.51. Alphabet Inc. has a one year low of $103.27 and a one year high of $161.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion during 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%. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.05 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 6.78 EPS 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.