Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Hoffman Alan N Investment Management

Hoffman Alan N Investment Management lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 26.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,540 shares of the information services provider’s stock after selling 7,820 shares during the period. Alphabet accounts for 1.5% of Hoffman Alan N Investment Management’s investment portfolio, making the stock its 6th largest position. Hoffman Alan N Investment Management’s holdings in Alphabet were worth $1,911,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in GOOG. CWA Asset Management Group LLC boosted its position in shares of Alphabet by 1.4% during the 4th quarter. CWA Asset Management Group LLC now owns 167,089 shares of the information services provider’s stock valued at $14,826,000 after acquiring an additional 2,247 shares during the last quarter. Grandview Asset Management LLC increased its position in Alphabet by 46.1% during the fourth quarter. Grandview Asset Management LLC now owns 21,735 shares of the information services provider’s stock worth $1,929,000 after purchasing an additional 6,860 shares during the last quarter. Parkside Advisors LLC purchased a new position in Alphabet during the fourth quarter worth about $253,000. Nexus Investment Management ULC boosted its holdings in Alphabet by 9.2% in the 4th quarter. Nexus Investment Management ULC now owns 260,773 shares of the information services provider’s stock valued at $23,138,000 after purchasing an additional 21,978 shares during the last quarter. Finally, Pure Financial Advisors LLC boosted its holdings in Alphabet by 2.3% in the 4th quarter. Pure Financial Advisors LLC now owns 9,117 shares of the information services provider’s stock valued at $809,000 after purchasing an additional 204 shares during the last quarter. 28.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on GOOG. Raymond James lifted their price target on shares of Alphabet from $116.00 to $119.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Jefferies Financial Group set a $125.00 target price on Alphabet in a research report on Friday, February 3rd. Sanford C. Bernstein set a $130.00 price target on Alphabet in a report on Monday, February 6th. Cowen reduced their price objective on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, January 11th. Finally, Credit Suisse Group set a $136.00 target price on shares of Alphabet in a research report on Friday, February 3rd. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $135.11.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 37,500 shares of Alphabet stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $100.00, for a total value of $3,750,000.00. Following the completion of the transaction, the director now owns 144,740 shares in the company, valued at $14,474,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kavitark Ram Shriram sold 37,500 shares of the firm’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $100.00, for a total value of $3,750,000.00. Following the sale, the director now directly owns 144,740 shares in the company, valued at approximately $14,474,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were purchased at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 74,245 shares of company stock worth $7,174,078. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $102.46 on Friday. The company has a market cap of $1.31 trillion, a price-to-earnings ratio of 22.51, a price-to-earnings-growth ratio of 1.33 and a beta of 1.09. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $144.16. The company has a fifty day simple moving average of $95.69 and a two-hundred day simple moving average of $96.73.

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

Alphabet 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.