Litman Gregory Wealth Management LLC Sells 1,510 Shares of Alphabet Inc. (NASDAQ:GOOG)

Litman Gregory Wealth Management LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,075 shares of the information services provider’s stock after selling 1,510 shares during the quarter. Alphabet makes up 0.9% of Litman Gregory Wealth Management LLC’s investment portfolio, making the stock its 26th largest position. Litman Gregory Wealth Management LLC’s holdings in Alphabet were worth $9,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Veracity Capital LLC grew its position 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 position 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 position 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 position in shares of Alphabet by 6.6% in the 3rd quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after buying an additional 1,710 shares during the last quarter. Finally, Sloy Dahl & Holst LLC grew its position in shares of Alphabet by 1.9% in the 3rd quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock worth $1,086,000 after buying an additional 155 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Down 1.1 %

GOOG stock opened at $155.72 on Monday. Alphabet Inc. has a 1-year low of $103.27 and a 1-year high of $161.70. The business has a fifty day moving average price of $147.46 and a 200-day moving average price of $141.97. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The stock has a market capitalization of $1.94 trillion, a P/E ratio of 26.85, a P/E/G ratio of 1.44 and a beta of 1.05.

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

Analyst Upgrades and Downgrades

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

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 230 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 over the last quarter. 12.99% of the stock is currently owned by 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.