Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 198,752 shares of the information services provider’s stock after selling 4,723 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Alphabet were worth $28,183,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Caliber Wealth Management LLC boosted its stake in shares of Alphabet by 2.6% during the 3rd quarter. Caliber Wealth Management LLC now owns 22,036 shares of the information services provider’s stock worth $2,905,000 after acquiring an additional 551 shares in the last quarter. Legacy Capital Wealth Partners LLC purchased a new stake in Alphabet in the 3rd quarter valued at approximately $508,000. Investment Advisory Group LLC lifted its stake in Alphabet by 1.1% in the 3rd quarter. Investment Advisory Group LLC now owns 7,578 shares of the information services provider’s stock valued at $999,000 after buying an additional 82 shares in the last quarter. Palumbo Wealth Management LLC lifted its stake in Alphabet by 47.7% in the 3rd quarter. Palumbo Wealth Management LLC now owns 8,107 shares of the information services provider’s stock valued at $1,069,000 after buying an additional 2,617 shares in the last quarter. Finally, Rothschild Investment LLC IL lifted its stake in Alphabet by 0.8% in the 3rd quarter. Rothschild Investment LLC IL now owns 126,512 shares of the information services provider’s stock valued at $16,681,000 after buying an additional 1,065 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

Alphabet Trading Up 0.7 %

Shares of GOOG opened at $161.10 on Thursday. The stock has a fifty day moving average of $148.20 and a two-hundred day moving average of $142.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The company has a market capitalization of $2.00 trillion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $103.27 and a fifty-two week high of $161.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data 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 business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 EPS. As a group, analysts forecast that Alphabet Inc. will post 6.79 EPS for the current year.

Insider Transactions at Alphabet

In other news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock worth $36,377,482 in the last ninety days. Insiders own 12.99% of the company’s stock.

About Alphabet

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.