Stonebridge Capital Management Inc. Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Stonebridge Capital Management Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,140 shares of the information services provider’s stock after selling 700 shares during the period. Alphabet makes up approximately 1.7% of Stonebridge Capital Management Inc.’s holdings, making the stock its 20th biggest holding. Stonebridge Capital Management Inc.’s holdings in Alphabet were worth $3,473,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GOOG. Totem Point Management LLC raised its holdings in Alphabet by 22.0% during the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after buying an additional 571 shares during the period. Somerville Kurt F raised its holdings in Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after buying an additional 11 shares during the period. BCK Partners Inc. purchased a new stake in Alphabet during the 1st quarter valued at $2,564,000. Hall Capital Management Co. Inc. raised its holdings in Alphabet by 53.2% during the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after buying an additional 50 shares during the period. Finally, Fairfield Bush & CO. raised its holdings in Alphabet by 6.8% during the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after buying an additional 214 shares during the period. 28.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the sale, the senior vice president now directly owns 76,579 shares in the company, valued at $6,872,965.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider John Kent Walker sold 11,313 shares of the firm’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $100.00, for a total value of $1,131,300.00. Following the completion of the transaction, the insider now directly owns 41,970 shares in the company, valued at $4,197,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,245 shares of company stock worth $7,174,078. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. UBS Group set a $120.00 price objective on Alphabet in a research report on Monday, February 6th. Societe Generale cut their price objective on Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. Jefferies Financial Group set a $125.00 price objective on Alphabet in a research report on Friday, February 3rd. Piper Sandler cut their price objective on Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, February 3rd. Finally, Bank of America upped their price objective on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research report on Tuesday, January 31st. One investment analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $137.13.

Alphabet Price Performance

Shares of GOOG stock opened at $102.46 on Friday. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $144.16. The stock’s 50-day moving average is $95.69 and its 200 day moving average is $96.82. The company has a market cap of $1.31 trillion, a P/E ratio of 22.51, a PEG ratio of 1.30 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34.

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

Alphabet Company Profile

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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.