Davidson Investment Advisors Sells 83 Shares of Alphabet Inc (NASDAQ:GOOG)

Davidson Investment Advisors lowered its stake in Alphabet Inc (NASDAQ:GOOG) by 0.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 35,990 shares of the information services provider’s stock after selling 83 shares during the quarter. Alphabet accounts for about 4.6% of Davidson Investment Advisors’ portfolio, making the stock its 2nd biggest holding. Davidson Investment Advisors’ holdings in Alphabet were worth $43,872,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Orrstown Financial Services Inc. acquired a new position in shares of Alphabet during the third quarter worth about $26,000. 1 North Wealth Services LLC bought a new stake in Alphabet during the 3rd quarter worth approximately $40,000. HMS Capital Management LLC bought a new stake in Alphabet during the 2nd quarter worth approximately $38,000. Vista Private Wealth Partners. LLC bought a new stake in Alphabet during the 3rd quarter worth approximately $46,000. Finally, First PREMIER Bank grew its position in Alphabet by 44.4% during the 3rd quarter. First PREMIER Bank now owns 52 shares of the information services provider’s stock worth $63,000 after acquiring an additional 16 shares during the last quarter. 33.78% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research report on Friday, October 25th. Bank of America reiterated a “buy” rating and issued a $1,450.00 price objective (up from $1,350.00) on shares of Alphabet in a research report on Friday, July 26th. Wedbush increased their price objective on Alphabet from $1,350.00 to $1,500.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Oppenheimer increased their price objective on Alphabet from $1,370.00 to $1,530.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,412.00 price objective on the stock in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Alphabet presently has a consensus rating of “Buy” and an average price target of $1,460.27.

In related news, SVP David C. Drummond sold 1,600 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $1,179.44, for a total transaction of $1,887,104.00. Following the sale, the senior vice president now owns 44,482 shares of the company’s stock, valued at approximately $52,463,850.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann Mather sold 25 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $1,219.01, for a total value of $30,475.25. Following the sale, the director now directly owns 1,816 shares in the company, valued at approximately $2,213,722.16. The disclosure for this sale can be found here. Insiders have sold a total of 32,043 shares of company stock worth $40,364,988 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

Shares of GOOG stock traded down $2.46 during trading hours on Wednesday, reaching $1,296.34. The company had a trading volume of 59,542 shares, compared to its average volume of 1,442,958. The company has a 50 day moving average of $1,246.02 and a 200 day moving average of $1,180.49. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.78 and a quick ratio of 3.75. The firm has a market cap of $904.43 billion, a price-to-earnings ratio of 27.33, a P/E/G ratio of 1.60 and a beta of 1.00. Alphabet Inc has a 1-year low of $970.11 and a 1-year high of $1,323.74.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Monday, October 28th. The information services provider reported $10.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $12.57 by ($2.45). The business had revenue of $40.50 billion for the quarter, compared to analyst estimates of $40.17 billion. Alphabet had a return on equity of 18.34% and a net margin of 21.04%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the business posted $13.06 EPS. As a group, sell-side analysts forecast that Alphabet Inc will post 49.05 EPS for the current fiscal year.

Alphabet Company Profile

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

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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