Kelman Lazarov Inc. Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Kelman Lazarov Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,169 shares of the information services provider’s stock after selling 71 shares during the period. Kelman Lazarov Inc.’s holdings in Alphabet were worth $588,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Veracity Capital LLC boosted 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 worth $1,493,000 after buying an additional 1,173 shares in the last quarter. Independence Bank of Kentucky lifted its position in shares of Alphabet by 25.3% during the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after acquiring an additional 1,230 shares during the period. Washington Trust Bank boosted its stake in shares of Alphabet by 33.0% during the 3rd quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock worth $970,000 after acquiring an additional 1,826 shares in the last quarter. CNB Bank boosted its stake in shares of Alphabet by 6.6% during the 3rd quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after acquiring an additional 1,710 shares in the last quarter. Finally, Sloy Dahl & Holst LLC grew its holdings in shares of Alphabet by 1.9% in the 3rd quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock worth $1,086,000 after acquiring an additional 155 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOOG has been the topic of a number of research analyst reports. Raymond James boosted their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Stifel Nicolaus lifted their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer increased their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. 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 report on Wednesday, January 31st. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $159.86.

Insider Activity

In other Alphabet news, 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 completion of the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock valued at $36,377,482 in the last 90 days. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Up 1.2 %

GOOG opened at $159.92 on Wednesday. The firm has a market cap of $1.99 trillion, a P/E ratio of 27.57, a PEG ratio of 1.46 and a beta of 1.05. The business’s fifty day simple moving average is $147.92 and its 200 day simple moving average is $142.27. Alphabet Inc. has a 52 week low of $103.27 and a 52 week high of $161.70. 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 (NASDAQ:GOOG) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current fiscal 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.