Transcend Capital Advisors LLC Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Transcend Capital Advisors LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the 4th quarter, HoldingsChannel reports. The fund owned 67,989 shares of the information services provider’s stock after selling 303 shares during the quarter. Alphabet makes up 0.9% of Transcend Capital Advisors LLC’s investment portfolio, making the stock its 21st biggest position. Transcend Capital Advisors LLC’s holdings in Alphabet were worth $9,582,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GOOG. CX Institutional raised its stake in shares of Alphabet by 2.3% during the third quarter. CX Institutional now owns 29,102 shares of the information services provider’s stock worth $3,837,000 after acquiring an additional 648 shares in the last quarter. Builder Investment Group Inc. ADV raised its stake in shares of Alphabet by 19.8% during the third quarter. Builder Investment Group Inc. ADV now owns 2,420 shares of the information services provider’s stock worth $319,000 after acquiring an additional 400 shares in the last quarter. Coronation Fund Managers Ltd. raised its stake in shares of Alphabet by 25.4% during the third quarter. Coronation Fund Managers Ltd. now owns 47,109 shares of the information services provider’s stock worth $6,211,000 after acquiring an additional 9,534 shares in the last quarter. Goldstein Advisors LLC increased its stake in shares of Alphabet by 12.3% in the third quarter. Goldstein Advisors LLC now owns 6,479 shares of the information services provider’s stock worth $854,000 after buying an additional 711 shares during the period. Finally, SS&H Financial Advisors Inc. purchased a new position in shares of Alphabet in the third quarter worth $2,423,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, 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 SEC, which is accessible through this link. In other news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 253,439 shares of company stock worth $36,746,578. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GOOG shares. Stifel Nicolaus lifted their target price 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 lifted their target price 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. Oppenheimer lifted their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Finally, Susquehanna lifted their target price 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. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet presently has a consensus rating of “Buy” and an average price target of $165.67.

Alphabet Stock Performance

NASDAQ:GOOG opened at $173.69 on Monday. The stock has a market cap of $2.16 trillion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05. The firm’s fifty day simple moving average is $149.12 and its 200 day simple moving average is $142.78. Alphabet Inc. has a twelve month low of $104.42 and a twelve month high of $176.42. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.17 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 6.8 EPS for the current 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.