Lee Danner & Bass Inc. Sells 13,165 Shares of Alphabet Inc. (NASDAQ:GOOG)

Lee Danner & Bass Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 176,252 shares of the information services provider’s stock after selling 13,165 shares during the period. Alphabet accounts for approximately 2.1% of Lee Danner & Bass Inc.’s portfolio, making the stock its 7th biggest position. Lee Danner & Bass Inc.’s holdings in Alphabet were worth $24,839,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after acquiring an additional 9,703,425 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Alphabet in the 4th quarter valued at about $11,600,970,000. FMR LLC increased its stake in Alphabet by 3.8% during the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after purchasing an additional 4,348,188 shares during the period. Cerity Partners LLC lifted its position in shares of Alphabet by 198.7% during the fourth quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock worth $547,215,000 after purchasing an additional 2,583,128 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Alphabet by 93.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock valued at $647,064,000 after purchasing an additional 2,222,950 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the transaction, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the transaction, the chief executive officer now owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the sale, the director now owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 251,339 shares of company stock valued at $36,377,482. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Up 1.2 %

NASDAQ:GOOG opened at $159.92 on Wednesday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52-week low of $103.27 and a 52-week high of $161.70. The stock’s 50 day moving average price is $147.92 and its 200 day moving average price is $142.27. The company has a market capitalization of $1.99 trillion, a PE ratio of 27.57, a P/E/G ratio of 1.46 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. Alphabet’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the firm posted $1.05 EPS. On average, research analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Oppenheimer raised their price target 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. Stifel Nicolaus boosted their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Susquehanna increased their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Morgan Stanley restated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Finally, Raymond James increased their price objective 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 investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $159.86.

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.