J.P. Marvel Investment Advisors LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 29.8% during the first quarter, Holdings Channel reports. The fund owned 450 shares of the information services provider’s stock after selling 191 shares during the period. J.P. Marvel Investment Advisors LLC’s holdings in Alphabet were worth $373,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GOOG. Farmers National Bank increased its stake in shares of Alphabet by 15.0% in the first quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock worth $134,000 after buying an additional 21 shares during the last quarter. Pacific Center for Financial Services purchased a new stake in shares of Alphabet during the fourth quarter worth about $142,000. Israel Discount Bank of New York GFN purchased a new stake in shares of Alphabet during the fourth quarter worth about $166,000. Feltz Wealth PLAN Inc. purchased a new stake in shares of Alphabet during the first quarter worth about $170,000. Finally, Pinnacle Bank purchased a new stake in shares of Alphabet during the first quarter worth about $181,000. Hedge funds and other institutional investors own 34.57% of the company’s stock.

Alphabet Inc. (GOOG) traded up 0.72% during midday trading on Wednesday, hitting $928.88. The stock had a trading volume of 343,273 shares. The firm has a 50 day moving average of $934.57 and a 200 day moving average of $891.34. Alphabet Inc. has a 52 week low of $727.54 and a 52 week high of $988.25. The firm has a market cap of $643.60 billion, a price-to-earnings ratio of 33.66 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, beating the consensus estimate of $4.43 by $0.58. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The company had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. During the same period last year, the firm posted $8.42 earnings per share. Alphabet’s revenue was up 21.0% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post $30.59 EPS for the current year.

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A number of brokerages have issued reports on GOOG. Canaccord Genuity downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 price objective on the stock. in a research note on Thursday, June 15th. They noted that the move was a valuation call. Pivotal Research reiterated a “hold” rating and set a $980.00 price objective (down from $990.00) on shares of Alphabet in a research note on Monday, July 17th. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $1,200.00 price objective on shares of Alphabet in a research note on Wednesday, June 28th. Credit Suisse Group increased their price objective on shares of Alphabet from $1,100.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Friday, April 28th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, forty have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $1,026.22.

In related news, Director L John Doerr sold 13,556 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $922.15, for a total transaction of $12,500,665.40. Following the sale, the director now directly owns 3,485 shares of the company’s stock, valued at $3,213,692.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP James Grier Campbell sold 183 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $968.95, for a total value of $177,317.85. The disclosure for this sale can be found here. Insiders have sold 43,169 shares of company stock worth $40,499,322 over the last ninety days. 13.92% of the stock is currently owned by insiders.

About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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