Prentiss Smith & Co. Inc. Sells 3,486 Shares of Alphabet Inc. (NASDAQ:GOOG)

Prentiss Smith & Co. Inc. lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 6.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,481 shares of the information services provider’s stock after selling 3,486 shares during the quarter. Alphabet comprises approximately 5.5% of Prentiss Smith & Co. Inc.’s holdings, making the stock its 2nd biggest holding. Prentiss Smith & Co. Inc.’s holdings in Alphabet were worth $7,396,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOG. Kozak & Associates Inc. increased its stake in Alphabet by 2.9% during the 3rd quarter. Kozak & Associates Inc. now owns 9,412 shares of the information services provider’s stock worth $1,306,000 after buying an additional 265 shares during the period. Avior Wealth Management LLC increased its stake in Alphabet by 1.4% during the 3rd quarter. Avior Wealth Management LLC now owns 24,970 shares of the information services provider’s stock worth $3,292,000 after buying an additional 346 shares during the period. Founders Financial Securities LLC increased its stake in Alphabet by 32.1% during the 3rd quarter. Founders Financial Securities LLC now owns 2,548 shares of the information services provider’s stock worth $336,000 after buying an additional 619 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. increased its stake in Alphabet by 4.3% during the 3rd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 2,543 shares of the information services provider’s stock worth $335,000 after buying an additional 106 shares during the period. Finally, Integrated Investment Consultants LLC increased its stake in Alphabet by 10.2% during the 3rd quarter. Integrated Investment Consultants LLC now owns 7,552 shares of the information services provider’s stock worth $996,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The disclosure for this sale can be found here. In the last three months, insiders sold 253,439 shares of company stock valued at $36,746,578. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of several analyst reports. Stifel Nicolaus lifted their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer boosted their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Raymond James boosted their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Finally, Susquehanna boosted 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. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet has a consensus rating of “Buy” and an average price target of $165.67.

Alphabet Trading Up 10.0 %

NASDAQ GOOG opened at $173.69 on Friday. Alphabet Inc. has a one year low of $104.42 and a one year high of $176.42. The company has a 50-day simple moving average of $149.12 and a 200-day simple moving average of $142.75. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a market capitalization of $2.16 trillion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. Alphabet’s revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.17 EPS. On average, equities analysts forecast that Alphabet Inc. will post 6.79 earnings per share for the current year.

Alphabet 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.