Deepwater Asset Management LLC Sells 3,994 Shares of Alphabet Inc. (NASDAQ:GOOG)

Deepwater Asset Management LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,155 shares of the information services provider’s stock after selling 3,994 shares during the period. Alphabet accounts for 4.2% of Deepwater Asset Management LLC’s portfolio, making the stock its 18th largest position. Deepwater Asset Management LLC’s holdings in Alphabet were worth $10,592,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in GOOG. Moneta Group Investment Advisors LLC boosted its holdings in Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after buying an additional 129,835,437 shares during the last quarter. FMR LLC boosted its holdings 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 buying an additional 4,348,188 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Alphabet by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after buying an additional 9,703,425 shares during the last quarter. Morgan Stanley boosted its holdings in Alphabet by 37.6% during the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after buying an additional 19,612,974 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Alphabet by 2.3% during the third quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock worth $7,550,942,000 after buying an additional 1,275,060 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GOOG shares. Raymond James raised their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Susquehanna lifted their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet currently has an average rating of “Buy” and a consensus target price of $146.33.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 28,281 shares of Alphabet stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $141.40, for a total value of $3,998,933.40. Following the sale, the insider now owns 25,002 shares of the company’s stock, valued at approximately $3,535,282.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider John Kent Walker sold 28,281 shares of Alphabet stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $141.40, for a total value of $3,998,933.40. Following the sale, the insider now owns 25,002 shares of the company’s stock, valued at approximately $3,535,282.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the sale, the chief executive officer now directly owns 2,310,191 shares in the company, valued at approximately $343,710,216.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 279,659 shares of company stock valued at $39,460,310. 12.99% of the stock is owned by insiders.

Alphabet Stock Down 0.4 %

Shares of NASDAQ:GOOG traded down $0.56 during trading on Wednesday, hitting $151.14. 3,727,077 shares of the company’s stock traded hands, compared to its average volume of 22,934,617. Alphabet Inc. has a 52 week low of $100.28 and a 52 week high of $155.20. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.88 trillion, a price-to-earnings ratio of 26.16, a price-to-earnings-growth ratio of 1.40 and a beta of 1.05. The company has a 50-day moving average price of $144.41 and a 200-day moving average price of $139.20.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. During the same quarter in the previous year, the business posted $1.05 EPS. Alphabet’s revenue for the quarter was up 13.5% on a year-over-year basis. As a group, research analysts forecast that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Alphabet Company Profile

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.