Family Capital Management Inc. Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Family Capital Management Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 32.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,007 shares of the information services provider’s stock after selling 1,436 shares during the quarter. Family Capital Management Inc.’s holdings in Alphabet were worth $424,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Totem Point Management LLC grew its position in shares of Alphabet by 22.0% during the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after purchasing an additional 571 shares in the last quarter. Somerville Kurt F lifted its position in shares of Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after buying an additional 11 shares in the last quarter. BCK Partners Inc. bought a new position in Alphabet during the first quarter valued at approximately $2,564,000. Hall Capital Management Co. Inc. grew its holdings in Alphabet by 53.2% during the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after buying an additional 50 shares in the last quarter. Finally, Fairfield Bush & CO. increased its stake in Alphabet by 6.8% in the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after acquiring an additional 214 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock valued at $36,377,482 over the last 90 days. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GOOG shares. Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer boosted their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Raymond James increased their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Finally, Stifel Nicolaus lifted their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $159.86.

Alphabet Stock Down 1.1 %

NASDAQ GOOG opened at $155.72 on Friday. 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 52 week low of $103.27 and a 52 week high of $161.70. The firm has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.44 and a beta of 1.05. The company has a fifty day moving average of $147.46 and a two-hundred day moving average of $141.93.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 EPS. On average, analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current 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.