Grandfield & Dodd LLC Sells 240 Shares of Alphabet Inc. (NASDAQ:GOOG)

Grandfield & Dodd LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,995 shares of the information services provider’s stock after selling 240 shares during the quarter. Grandfield & Dodd LLC’s holdings in Alphabet were worth $2,677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Veracity Capital LLC grew its holdings in Alphabet by 12.4% during the 4th quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after acquiring an additional 1,173 shares during the last quarter. Independence Bank of Kentucky grew its holdings in Alphabet by 25.3% during the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock worth $859,000 after acquiring an additional 1,230 shares during the last quarter. Washington Trust Bank grew its holdings in Alphabet by 33.0% during the 3rd quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock worth $970,000 after acquiring an additional 1,826 shares during the last quarter. CNB Bank grew its holdings in Alphabet by 6.6% during the 3rd quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after acquiring an additional 1,710 shares during the last quarter. Finally, Sloy Dahl & Holst LLC grew its holdings in Alphabet by 1.9% during the 3rd quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock worth $1,086,000 after acquiring an additional 155 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of research reports. 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 report on Wednesday, January 24th. Oppenheimer boosted their price target 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. Susquehanna boosted their price target 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. Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Finally, Stifel Nicolaus boosted their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average price target of $159.86.

Alphabet Stock Down 1.1 %

Alphabet stock opened at $155.72 on Monday. The company has a market capitalization of $1.94 trillion, a PE ratio of 26.85, a PEG ratio of 1.44 and a beta of 1.05. The firm’s fifty day moving average is $147.46 and its 200 day moving average is $141.97. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $103.27 and a 12-month high of $161.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. Alphabet’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction 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 owns 27,920 shares in the company, valued at approximately $4,009,032.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the sale, the director now owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 251,339 shares of company stock worth $36,377,482. 12.99% of the stock is owned by corporate insiders.

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.