LSV Asset Management Sells 400 Shares of Alphabet Inc. (NASDAQ:GOOG)

LSV Asset Management cut its position in Alphabet Inc. (NASDAQ:GOOG) by 16.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,010 shares of the information services provider’s stock after selling 400 shares during the quarter. LSV Asset Management’s holdings in Alphabet were worth $4,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Resolute Partners Group purchased a new stake in Alphabet in the 4th quarter worth approximately $26,000. Mascoma Wealth Management LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $27,000. Brand Asset Management Group Inc. lifted its stake in Alphabet by 200.0% in the 1st quarter. Brand Asset Management Group Inc. now owns 15 shares of the information services provider’s stock worth $31,000 after purchasing an additional 10 shares in the last quarter. ADE LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $32,000. Finally, Carolina Wealth Advisors LLC lifted its stake in Alphabet by 50.0% in the 1st quarter. Carolina Wealth Advisors LLC now owns 18 shares of the information services provider’s stock worth $37,000 after purchasing an additional 6 shares in the last quarter. Institutional investors and hedge funds own 31.94% of the company’s stock.

Shares of GOOG opened at $2,316.16 on Friday. The firm’s 50-day moving average price is $2,265.68 and its 200-day moving average price is $1,969.58. The firm has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 44.76, a PEG ratio of 1.66 and a beta of 0.98. The company has a current ratio of 3.41, a quick ratio of 3.39 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $1,339.00 and a 1-year high of $2,452.38.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Monday, April 26th. The information services provider reported $26.29 earnings per share for the quarter, beating analysts’ consensus estimates of $15.74 by $10.55. The firm had revenue of $55.30 billion for the quarter, compared to analyst estimates of $51.40 billion. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. The company’s revenue for the quarter was up 34.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.87 EPS. On average, research analysts forecast that Alphabet Inc. will post 52.19 EPS for the current fiscal year.

In related news, Director Lawrence Page sold 3,998 shares of Alphabet stock in a transaction dated Wednesday, May 12th. The shares were sold at an average price of $2,261.93, for a total transaction of $9,043,196.14. Following the completion of the transaction, the director now directly owns 800 shares of the company’s stock, valued at approximately $1,809,544. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Philipp Schindler sold 1,385 shares of Alphabet stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $2,056.52, for a total transaction of $2,848,280.20. Following the completion of the transaction, the senior vice president now directly owns 1,200 shares of the company’s stock, valued at $2,467,824. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,036 shares of company stock valued at $91,551,013. 12.99% of the stock is currently owned by corporate insiders.

Several analysts have issued reports on GOOG shares. Piper Sandler increased their target price on shares of Alphabet from $2,250.00 to $2,635.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 4th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research report on Wednesday, April 28th. Raymond James raised their price objective on shares of Alphabet from $2,440.00 to $2,750.00 and gave the company an “outperform” rating in a research report on Tuesday, May 4th. Wedbush assumed coverage on shares of Alphabet in a research report on Wednesday, April 14th. They set an “outperform” rating and a $2,953.00 price objective on the stock. Finally, Credit Suisse Group raised their price objective on shares of Alphabet from $2,500.00 to $2,755.00 and gave the company an “outperform” rating in a research report on Tuesday, May 4th. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $2,495.63.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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