Analyst IMS Investment Management Services Ltd. Reduces Stock Position in Alphabet Inc (NASDAQ:GOOG)

Analyst IMS Investment Management Services Ltd. trimmed its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 4.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,919 shares of the information services provider’s stock after selling 287 shares during the quarter. Alphabet accounts for about 2.2% of Analyst IMS Investment Management Services Ltd.’s holdings, making the stock its 7th largest position. Analyst IMS Investment Management Services Ltd.’s holdings in Alphabet were worth $6,883,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Ameraudi Asset Management Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $207,000. Bainco International Investors increased its position in Alphabet by 0.5% in the fourth quarter. Bainco International Investors now owns 12,372 shares of the information services provider’s stock worth $17,972,000 after buying an additional 60 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in Alphabet by 1,050.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,185 shares of the information services provider’s stock worth $1,584,000 after buying an additional 1,082 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Alphabet in the fourth quarter valued at $22,903,000. Finally, Cannell Peter B & Co. Inc. grew its position in shares of Alphabet by 1.3% in the fourth quarter. Cannell Peter B & Co. Inc. now owns 63,458 shares of the information services provider’s stock valued at $85,272,000 after purchasing an additional 788 shares in the last quarter. 33.61% of the stock is owned by institutional investors.

Several equities analysts have recently weighed in on GOOG shares. Credit Suisse Group reduced their price target on Alphabet from $1,700.00 to $1,500.00 and set an “outperform” rating for the company in a research report on Monday, April 20th. Pivotal Research lifted their price target on Alphabet from $1,425.00 to $1,575.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Nomura Securities boosted their target price on Alphabet from $1,560.00 to $1,680.00 in a research note on Tuesday, February 4th. Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. boosted their price target on Alphabet from $1,340.00 to $1,505.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $1,580.52.

GOOG stock traded down $1.04 during trading on Friday, reaching $1,401.76. The company’s stock had a trading volume of 62,390 shares, compared to its average volume of 1,806,928. Alphabet Inc has a 1 year low of $1,013.54 and a 1 year high of $1,532.11. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $960.25 billion, a P/E ratio of 28.31, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. The company’s fifty day moving average is $1,279.53 and its 200-day moving average is $1,331.21.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $11.27 by ($1.40). Alphabet had a return on equity of 17.43% and a net margin of 20.71%. The business had revenue of $41.16 billion during the quarter, compared to analysts’ expectations of $40.29 billion. During the same quarter in the previous year, the company posted $9.50 EPS. The company’s quarterly revenue was up 13.3% on a year-over-year basis. Analysts anticipate that Alphabet Inc will post 41.47 earnings per share for the current year.

In other news, Director John L. Hennessy sold 60 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $1,363.61, for a total transaction of $81,816.60. Following the completion of the transaction, the director now owns 592 shares in the company, valued at $807,257.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 61 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $1,397.68, for a total value of $85,258.48. Following the transaction, the chief accounting officer now owns 388 shares of the company’s stock, valued at approximately $542,299.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 325 shares of company stock valued at $409,753. Company insiders own 12.99% of the company’s stock.

Alphabet 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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