Tandem Capital Management Corp ADV Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Tandem Capital Management Corp ADV trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 3.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 21,316 shares of the information services provider’s stock after selling 858 shares during the period. Alphabet comprises 1.9% of Tandem Capital Management Corp ADV’s investment portfolio, making the stock its 17th largest position. Tandem Capital Management Corp ADV’s holdings in Alphabet were worth $3,004,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tandem Wealth Advisors LLC purchased a new stake in shares of Alphabet in the third quarter worth $25,000. Bruce G. Allen Investments LLC purchased a new stake in Alphabet during the 4th quarter valued at about $26,000. Equitec Proprietary Markets LLC purchased a new position in Alphabet in the fourth quarter worth about $28,000. Buck Wealth Strategies LLC purchased a new stake in shares of Alphabet during the third quarter valued at approximately $32,000. Finally, Barometer Capital Management Inc. bought a new stake in shares of Alphabet during the third quarter valued at approximately $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders sold a total of 253,439 shares of company stock valued at $36,746,578 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

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

Alphabet Stock Performance

NASDAQ GOOG opened at $173.69 on Friday. The firm has a market cap 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. 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 business has a 50-day moving average price of $149.12 and a 200-day moving average price of $142.75. Alphabet Inc. has a twelve month low of $104.42 and a twelve month 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. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.17 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 6.79 EPS for the current fiscal year.

Alphabet Company Profile

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.