Elmwood Wealth Management Inc. Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Elmwood Wealth Management Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 13.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,993 shares of the information services provider’s stock after selling 1,370 shares during the period. Elmwood Wealth Management Inc.’s holdings in Alphabet were worth $1,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Tandem Wealth Advisors LLC acquired a new stake in Alphabet during the 3rd quarter worth $25,000. Bruce G. Allen Investments LLC purchased a new position in shares of Alphabet during the fourth quarter worth about $26,000. HWG Holdings LP acquired a new stake in shares of Alphabet during the second quarter worth about $26,000. Equitec Proprietary Markets LLC acquired a new stake in shares of Alphabet during the fourth quarter worth about $28,000. Finally, Buck Wealth Strategies LLC purchased a new stake in shares of Alphabet in the 3rd quarter valued at about $32,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $156.88 on Thursday. The stock has a fifty day moving average price of $147.15 and a 200 day moving average price of $141.61. Alphabet Inc. has a 1-year low of $103.27 and a 1-year high of $161.70. 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 market cap of $1.95 trillion, a PE ratio of 27.05, a P/E/G ratio of 1.44 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion for 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 firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 EPS. Sell-side analysts forecast that Alphabet Inc. will post 6.78 EPS for the current year.

Analyst Ratings Changes

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

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The transaction was disclosed in a legal filing with the SEC, 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 transaction, 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 is accessible through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 251,339 shares of company stock valued at $36,377,482 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

Alphabet 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.