Kades & Cheifetz LLC Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Kades & Cheifetz LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,737 shares of the information services provider’s stock after selling 80 shares during the period. Kades & Cheifetz LLC’s holdings in Alphabet were worth $949,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in GOOG. Moneta Group Investment Advisors LLC boosted its position in 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 during the period. Bank of New York Mellon Corp boosted its position in 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 during the period. Norges Bank purchased a new stake in Alphabet during the 4th quarter worth $3,059,614,000. Morgan Stanley boosted its position in 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 during the period. Finally, JPMorgan Chase & Co. boosted its position in Alphabet by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after buying an additional 9,703,425 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following 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 document filed with the SEC, which is available through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold a total of 228,839 shares of company stock worth $32,835,757 over the last quarter. 12.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday. Susquehanna upped 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. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer upped their price objective 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. Finally, Raymond James upped their price objective 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. Six 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 a consensus target price of $159.86.

Alphabet Stock Performance

Shares of Alphabet stock opened at $156.00 on Wednesday. The firm has a market cap of $1.94 trillion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The firm’s 50-day simple moving average is $146.95 and its 200-day simple moving average is $141.51. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet Inc. has a 1 year low of $103.27 and a 1 year high of $161.70.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.05 EPS. Equities analysts forecast 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.