Foster & Motley Inc. Sells 561 Shares of Alphabet Inc. (NASDAQ:GOOG)

Foster & Motley Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 100,280 shares of the information services provider’s stock after selling 561 shares during the quarter. Alphabet accounts for approximately 1.1% of Foster & Motley Inc.’s holdings, making the stock its 16th largest position. Foster & Motley Inc.’s holdings in Alphabet were worth $14,132,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GOOG. Garrison Asset Management LLC raised its holdings in Alphabet by 5.4% during the fourth quarter. Garrison Asset Management LLC now owns 20,042 shares of the information services provider’s stock valued at $2,825,000 after acquiring an additional 1,030 shares during the period. RWA Wealth Partners LLC grew its position in Alphabet by 68.1% in the fourth quarter. RWA Wealth Partners LLC now owns 161,173 shares of the information services provider’s stock worth $22,714,000 after acquiring an additional 65,288 shares in the last quarter. Sage Mountain Advisors LLC grew its position in Alphabet by 18.8% in the fourth quarter. Sage Mountain Advisors LLC now owns 31,116 shares of the information services provider’s stock worth $4,385,000 after acquiring an additional 4,929 shares in the last quarter. Elite Life Management LLC purchased a new position in Alphabet in the fourth quarter worth about $550,000. Finally, Diversified LLC grew its position in Alphabet by 12.3% in the fourth quarter. Diversified LLC now owns 4,867 shares of the information services provider’s stock worth $686,000 after acquiring an additional 534 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent research reports. Oppenheimer lifted their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Stifel Nicolaus raised their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Raymond James raised their price objective 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. Susquehanna raised their price objective 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. Finally, Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $159.86.

Insider Activity

In related news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 251,339 shares of company stock worth $36,377,482. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $159.92 on Wednesday. Alphabet Inc. has a 12 month low of $103.27 and a 12 month high of $161.70. The stock has a fifty day moving average price of $147.92 and a 200-day moving average price of $142.27. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.99 trillion, a PE ratio of 27.57, a P/E/G ratio of 1.46 and a beta of 1.05.

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

About Alphabet

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.