Litman Gregory Wealth Management LLC Has $9.59 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Litman Gregory Wealth Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,075 shares of the information services provider’s stock after selling 1,510 shares during the quarter. Alphabet makes up 0.9% of Litman Gregory Wealth Management LLC’s holdings, making the stock its 26th biggest position. Litman Gregory Wealth Management LLC’s holdings in Alphabet were worth $9,594,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Veracity Capital LLC lifted its holdings in shares of Alphabet by 12.4% during the fourth 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 in the last quarter. Independence Bank of Kentucky lifted its holdings in shares of Alphabet by 25.3% during the fourth 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 in the last quarter. Washington Trust Bank lifted its holdings in shares of Alphabet by 33.0% during the third 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 in the last quarter. CNB Bank lifted its holdings in shares of Alphabet by 6.6% during the third 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 in the last quarter. Finally, Sloy Dahl & Holst LLC lifted its holdings in shares of Alphabet by 1.9% during the third 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 in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frances Arnold sold 230 shares of the company’s 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 owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock worth $36,377,482 over the last ninety days. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research reports. Susquehanna lifted their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Raymond James boosted their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Stifel Nicolaus boosted their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Finally, Oppenheimer lifted their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Alphabet currently has an average rating of “Buy” and a consensus price target of $159.86.

Alphabet Stock Performance

NASDAQ:GOOG opened at $155.72 on Monday. The stock has a market cap of $1.94 trillion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.44 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. The stock’s 50-day moving average is $147.46 and its 200-day moving average is $141.97. Alphabet Inc. has a 1-year low of $103.27 and a 1-year high of $161.70.

Alphabet (NASDAQ:GOOG) last announced 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. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. During the same period in the prior year, the business posted $1.05 earnings per share. The firm’s revenue was up 13.5% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current 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.