Rise Advisors LLC Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Rise Advisors LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 15.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,042 shares of the information services provider’s stock after selling 380 shares during the period. Rise Advisors LLC’s holdings in Alphabet were worth $181,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Alphabet by 1,885.5% in the third quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock valued at $40,593,957,000 after purchasing an additional 400,930,216 shares during the period. BlackRock Inc. lifted its holdings in Alphabet by 1,857.3% during the 3rd quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock worth $35,055,286,000 after buying an additional 345,962,033 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Alphabet by 1,770.6% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock worth $19,639,414,000 after buying an additional 192,607,045 shares during the last quarter. State Street Corp lifted its holdings in Alphabet by 1,851.7% during the 3rd quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock worth $18,931,733,000 after buying an additional 186,809,281 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Alphabet by 1,862.3% during the 3rd quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock worth $6,075,223,000 after buying an additional 59,964,963 shares during the last quarter. 28.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 11,313 shares of the business’s stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the transaction, the insider now owns 41,970 shares in the company, valued at approximately $4,197,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ann Mather sold 380 shares of the business’s stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the sale, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 11,313 shares of the company’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $100.00, for a total value of $1,131,300.00. Following the completion of the sale, the insider now directly owns 41,970 shares in the company, valued at approximately $4,197,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,245 shares of company stock worth $7,174,078. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $102.46 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $95.69 and its two-hundred day moving average is $96.82. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $144.16. The stock has a market capitalization of $1.31 trillion, a price-to-earnings ratio of 22.51, a PEG ratio of 1.30 and a beta of 1.09.

Alphabet (NASDAQ:GOOG – Get Rating) last released its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business had revenue of $76.05 billion for the quarter, compared to analyst estimates of $76.49 billion. During the same quarter in the previous year, the firm posted $1.53 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 5.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GOOG. Bank of America lifted their price target on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Cowen decreased their price target on Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, January 11th. Societe Generale decreased their price target on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. UBS Group set a $120.00 target price on Alphabet in a research report on Monday, February 6th. Finally, Sanford C. Bernstein set a $130.00 target price on Alphabet in a research report on Monday, February 6th. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $137.13.

Alphabet Profile

(Get Rating)

Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.