Alphabet Inc. (NASDAQ:GOOG) Stock Position Cut by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 12.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 120,230 shares of the information services provider’s stock after selling 16,800 shares during the period. Alphabet comprises 2.9% of K.J. Harrison & Partners Inc’s investment portfolio, making the stock its 5th biggest position. K.J. Harrison & Partners Inc’s holdings in Alphabet were worth $16,944,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GOOG. Tandem Wealth Advisors LLC acquired a new position in Alphabet in the 3rd quarter worth about $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $26,000. Equitec Proprietary Markets LLC acquired a new position in shares of Alphabet during the 4th quarter worth approximately $28,000. Buck Wealth Strategies LLC purchased a new position in shares of Alphabet during the 3rd quarter valued at approximately $32,000. Finally, Barometer Capital Management Inc. acquired a new stake in Alphabet in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on GOOG. Oppenheimer increased their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Raymond James lifted their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Susquehanna boosted their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Finally, Stifel Nicolaus increased their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $165.67.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 253,439 shares of company stock valued at $36,746,578. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of Alphabet stock traded up $15.74 on Friday, hitting $173.69. 56,500,787 shares of the company were exchanged, compared to its average volume of 18,324,858. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average price of $149.12 and a 200 day moving average price of $142.75. The stock has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. Alphabet Inc. has a 1-year low of $104.42 and a 1-year high of $176.42.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. As a group, sell-side analysts predict that Alphabet Inc. will post 6.79 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.