Alphabet Inc. (NASDAQ:GOOG) Stock Position Cut by Lipe & Dalton

Lipe & Dalton lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,580 shares of the information services provider’s stock after selling 300 shares during the period. Alphabet accounts for approximately 4.9% of Lipe & Dalton’s holdings, making the stock its 2nd biggest position. Lipe & Dalton’s holdings in Alphabet were worth $8,960,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Everence Capital Management Inc. boosted its holdings in shares of Alphabet by 2.0% during the 4th quarter. Everence Capital Management Inc. now owns 127,440 shares of the information services provider’s stock valued at $17,960,000 after buying an additional 2,490 shares in the last quarter. Desjardins Global Asset Management Inc. boosted its holdings in shares of Alphabet by 47.9% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 50,333 shares of the information services provider’s stock valued at $7,094,000 after buying an additional 16,295 shares in the last quarter. Main Street Research LLC boosted its holdings in shares of Alphabet by 18.3% during the 4th quarter. Main Street Research LLC now owns 15,010 shares of the information services provider’s stock valued at $2,115,000 after buying an additional 2,323 shares in the last quarter. Riverstone Advisors LLC bought a new stake in shares of Alphabet during the 4th quarter valued at $234,000. Finally, Buffington Mohr McNeal boosted its holdings in shares of Alphabet by 1.9% during the 4th quarter. Buffington Mohr McNeal now owns 24,307 shares of the information services provider’s stock valued at $3,426,000 after buying an additional 455 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the transaction, the director now owns 7,991 shares in the company, valued at approximately $1,275,043.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the sale, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 251,339 shares of company stock worth $36,377,482. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

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

Alphabet Price Performance

GOOG opened at $157.46 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a market capitalization of $1.96 trillion, a P/E ratio of 27.15, a P/E/G ratio of 1.45 and a beta of 1.05. The company’s 50-day simple moving average is $147.35 and its two-hundred day simple moving average is $141.72. Alphabet Inc. has a 52-week low of $103.27 and a 52-week high of $161.70.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 EPS. As a group, analysts predict that Alphabet Inc. will post 6.78 EPS for the current year.

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.