Brightworth trimmed its position in Alphabet Inc (NASDAQ:GOOG) by 11.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 371 shares of the information services provider’s stock after selling 47 shares during the quarter. Brightworth’s holdings in Alphabet were worth $384,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of GOOG. Ayalon Holdings Ltd. bought a new position in Alphabet in the 4th quarter valued at about $32,000. First PREMIER Bank raised its holdings in Alphabet by 80.0% in the 4th quarter. First PREMIER Bank now owns 36 shares of the information services provider’s stock valued at $38,000 after acquiring an additional 16 shares during the period. CX Institutional raised its holdings in Alphabet by 471.4% in the 4th quarter. CX Institutional now owns 40 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 33 shares during the period. Bogart Wealth LLC raised its holdings in Alphabet by 440.0% in the 4th quarter. Bogart Wealth LLC now owns 54 shares of the information services provider’s stock valued at $55,000 after acquiring an additional 44 shares during the period. Finally, Norway Savings Bank grew its position in shares of Alphabet by 28.6% during the 4th quarter. Norway Savings Bank now owns 90 shares of the information services provider’s stock worth $93,000 after purchasing an additional 20 shares in the last quarter. 34.45% of the stock is currently owned by institutional investors.
GOOG has been the topic of a number of analyst reports. UBS Group restated a “buy” rating on shares of Alphabet in a research report on Monday, January 14th. Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Monday. Deutsche Bank decreased their target price on shares of Alphabet from $1,350.00 to $1,300.00 and set a “buy” rating on the stock in a research report on Wednesday, January 23rd. BidaskClub upgraded shares of Alphabet from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Finally, Barclays decreased their target price on shares of Alphabet to $1,350.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 5th. Four equities research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,354.36.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, April 29th. The information services provider reported $11.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $10.51 by $1.39. The business had revenue of $36.34 billion for the quarter, compared to analyst estimates of $37.36 billion. Alphabet had a net margin of 19.71% and a return on equity of 20.06%. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the business posted $9.93 EPS. Equities analysts expect that Alphabet Inc will post 47.72 EPS for the current year.
In related news, VP Amie Thuener O’toole sold 89 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $1,145.00, for a total value of $101,905.00. Following the completion of the transaction, the vice president now owns 388 shares of the company’s stock, valued at approximately $444,260. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 375 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,200.00, for a total transaction of $450,000.00. Following the completion of the transaction, the director now directly owns 80 shares of the company’s stock, valued at approximately $96,000. The disclosure for this sale can be found here. Insiders have sold a total of 906 shares of company stock worth $1,073,756 in the last quarter. 13.11% of the stock is currently owned by company insiders.
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Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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