Canton Hathaway LLC Sells 1,250 Shares of Alphabet Inc. (NASDAQ:GOOG)

Canton Hathaway LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,240 shares of the information services provider’s stock after selling 1,250 shares during the quarter. Alphabet accounts for about 1.5% of Canton Hathaway LLC’s investment portfolio, making the stock its 8th largest position. Canton Hathaway LLC’s holdings in Alphabet were worth $4,825,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Veracity Capital LLC lifted its position in shares of Alphabet by 12.4% during the 4th quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after buying an additional 1,173 shares during the period. Independence Bank of Kentucky lifted its position in shares of Alphabet by 25.3% during the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock worth $859,000 after buying an additional 1,230 shares during the period. Washington Trust Bank lifted its position in shares of Alphabet by 33.0% during the 3rd quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock worth $970,000 after buying an additional 1,826 shares during the period. CNB Bank lifted its position in shares of Alphabet by 6.6% during the 3rd quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after buying an additional 1,710 shares during the period. Finally, Sloy Dahl & Holst LLC lifted its position in shares of Alphabet by 1.9% during the 3rd quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock worth $1,086,000 after buying an additional 155 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.6 %

NASDAQ GOOG opened at $156.88 on Thursday. The stock has a fifty day moving average of $147.15 and a 200-day moving average of $141.61. The stock has a market capitalization of $1.95 trillion, a P/E ratio of 27.05, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a 52 week low of $103.27 and a 52 week high of $161.70. 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 (NASDAQ:GOOG) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the firm earned $1.05 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 6.78 EPS for the current year.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 251,339 shares of company stock valued at $36,377,482. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GOOG shares. Oppenheimer raised their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley restated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus lifted their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday. Raymond James lifted their price objective on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Finally, Susquehanna lifted their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $159.86.

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.