Sigma Planning Corp Has $7.49 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Sigma Planning Corp reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 67.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,115 shares of the information services provider’s stock after selling 110,958 shares during the period. Alphabet accounts for approximately 0.6% of Sigma Planning Corp’s holdings, making the stock its 26th largest holding. Sigma Planning Corp’s holdings in Alphabet were worth $7,486,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Veracity Capital LLC boosted its position in shares of Alphabet by 12.4% in the 4th quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after purchasing an additional 1,173 shares during the last quarter. Independence Bank of Kentucky boosted its position in shares of Alphabet by 25.3% in the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock worth $859,000 after purchasing an additional 1,230 shares during the last quarter. Washington Trust Bank boosted its position in shares of Alphabet by 33.0% in the 3rd quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock worth $970,000 after purchasing an additional 1,826 shares during the last quarter. CNB Bank lifted its holdings in 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 acquiring an additional 1,710 shares in the last quarter. Finally, Sloy Dahl & Holst LLC lifted its holdings in 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 acquiring an additional 155 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. 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 lifted their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Oppenheimer lifted their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet has an average rating of “Buy” and an average price target of $159.86.

Alphabet Stock Performance

Shares of Alphabet stock opened at $157.95 on Tuesday. The firm has a market cap of $1.96 trillion, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The stock’s 50-day moving average is $147.65 and its 200-day moving average is $142.12. Alphabet Inc. has a one year low of $103.27 and a one 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.

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, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. Alphabet’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 earnings per share. Equities analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated 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 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 document filed with the SEC, which is available through this hyperlink. In related news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction dated 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 of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 251,339 shares of company stock valued at $36,377,482. 12.99% of the stock is owned by insiders.

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.