FCG Advisors LLC Reduces Holdings in Alphabet Inc (NASDAQ:GOOG)

FCG Advisors LLC trimmed its position in shares of Alphabet Inc (NASDAQ:GOOG) by 9.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 890 shares of the information services provider’s stock after selling 91 shares during the quarter. FCG Advisors LLC’s holdings in Alphabet were worth $1,035,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. BlackRock Inc. boosted its stake in Alphabet by 1.5% during the first quarter. BlackRock Inc. now owns 20,264,225 shares of the information services provider’s stock worth $23,563,444,000 after buying an additional 295,467 shares during the last quarter. State Street Corp boosted its stake in Alphabet by 0.8% during the first quarter. State Street Corp now owns 11,814,026 shares of the information services provider’s stock worth $13,737,468,000 after buying an additional 98,084 shares during the last quarter. Capital International Investors boosted its stake in Alphabet by 0.5% during the fourth quarter. Capital International Investors now owns 4,337,057 shares of the information services provider’s stock worth $5,798,732,000 after buying an additional 22,290 shares during the last quarter. Geode Capital Management LLC boosted its stake in Alphabet by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 4,254,922 shares of the information services provider’s stock worth $5,676,066,000 after buying an additional 91,374 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Alphabet by 0.6% during the first quarter. JPMorgan Chase & Co. now owns 3,707,376 shares of the information services provider’s stock worth $4,310,974,000 after buying an additional 22,951 shares during the last quarter. Hedge funds and other institutional investors own 32.99% of the company’s stock.

In other Alphabet news, Director Ann Mather sold 34 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $1,121.18, for a total transaction of $38,120.12. Following the sale, the director now owns 1,119 shares in the company, valued at approximately $1,254,600.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 61 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $1,397.68, for a total value of $85,258.48. Following the sale, the chief accounting officer now owns 388 shares in the company, 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 worth $409,753. 12.99% of the stock is owned by company insiders.

A number of equities analysts have weighed in on the company. BidaskClub raised Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Zacks Investment Research lowered Alphabet from a “hold” rating to a “sell” rating in a research note on Thursday, April 30th. ValuEngine raised Alphabet from a “sell” rating to a “hold” rating in a research note on Thursday, March 5th. Cowen upped their price target on Alphabet from $1,450.00 to $1,525.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Finally, Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, April 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $1,580.52.

GOOG traded up $14.05 during mid-day trading on Thursday, hitting $1,431.89. 144,298 shares of the stock were exchanged, compared to its average volume of 1,656,767. The firm’s fifty day moving average is $1,315.10 and its two-hundred day moving average is $1,335.23. Alphabet Inc has a 1-year low of $1,013.54 and a 1-year high of $1,532.11. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.08. The company has a market cap of $967.85 billion, a PE ratio of 28.61, a PEG ratio of 2.12 and a beta of 1.06.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $41.16 billion for the quarter, compared to analysts’ expectations of $40.29 billion. During the same quarter last year, the company earned $9.50 EPS. Alphabet’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc will post 41.47 earnings per share for the current year.

About Alphabet

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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