Mountain Pacific Investment Advisers Inc. ID Decreases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Mountain Pacific Investment Advisers Inc. ID trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,205 shares of the information services provider’s stock after selling 106 shares during the period. Mountain Pacific Investment Advisers Inc. ID’s holdings in Alphabet were worth $311,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Veracity Capital LLC lifted its holdings in Alphabet by 12.4% during the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after purchasing an additional 1,173 shares in the last quarter. Independence Bank of Kentucky lifted its holdings in Alphabet by 25.3% during the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after purchasing an additional 1,230 shares in the last quarter. Washington Trust Bank raised its position in shares of Alphabet by 33.0% in the third quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock valued at $970,000 after buying an additional 1,826 shares during the last quarter. CNB Bank raised its position in shares of Alphabet by 6.6% in the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock valued at $3,655,000 after buying an additional 1,710 shares during the last quarter. Finally, Sloy Dahl & Holst LLC raised its position in shares of Alphabet by 1.9% in the third quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock valued at $1,086,000 after buying an additional 155 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Alphabet stock opened at $173.69 on Friday. Alphabet Inc. has a 12-month low of $104.42 and a 12-month high of $176.42. The stock has a market cap of $2.16 trillion, a P/E ratio of 26.64, a PEG ratio of 1.60 and a beta of 1.05. The company has a 50-day moving average price of $149.12 and a 200 day moving average price of $142.77. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same period last year, the business earned $1.17 earnings per share. Alphabet’s revenue was up 15.4% compared to the same quarter last year. Sell-side analysts anticipate that Alphabet Inc. will post 6.8 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The disclosure for this sale can be found here. Insiders sold a total of 253,439 shares of company stock worth $36,746,578 over the last three months. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

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

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.