First Affirmative Financial Network Sells 350 Shares of Alphabet Inc. (NASDAQ:GOOG)

First Affirmative Financial Network cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,962 shares of the information services provider’s stock after selling 350 shares during the quarter. Alphabet accounts for about 1.4% of First Affirmative Financial Network’s portfolio, making the stock its 9th biggest holding. First Affirmative Financial Network’s holdings in Alphabet were worth $2,469,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC raised its stake in shares of Alphabet by 5.2% during the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after purchasing an additional 5,655,022 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Alphabet by 10.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after buying an additional 3,113,395 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Alphabet by 65.9% during the third quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock worth $1,052,349,000 after acquiring an additional 2,500,621 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Alphabet by 182.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock valued at $422,331,000 after acquiring an additional 1,630,701 shares during the period. Finally, Jennison Associates LLC grew its position in shares of Alphabet by 9.1% in the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock valued at $2,578,793,000 after acquiring an additional 1,291,274 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Pivotal Research raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Wedbush reaffirmed an “outperform” rating and set a $220.00 price target on shares of Alphabet in a report on Thursday. Oppenheimer upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the transaction, the director now owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,189 shares of company stock worth $22,182,696 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.5 %

Shares of NASDAQ GOOG opened at $205.60 on Monday. The stock has a market capitalization of $2.52 trillion, a P/E ratio of 27.27, a PEG ratio of 1.27 and a beta of 0.99. The stock’s fifty day moving average is $190.48 and its 200 day moving average is $175.60. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $207.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

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.