AM Investment Strategies LLC Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

AM Investment Strategies LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,031 shares of the information services provider’s stock after selling 750 shares during the period. Alphabet accounts for approximately 2.9% of AM Investment Strategies LLC’s investment portfolio, making the stock its 5th biggest holding. AM Investment Strategies LLC’s holdings in Alphabet were worth $10,292,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Alphabet by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after buying an additional 9,703,425 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Alphabet during the fourth quarter worth approximately $11,600,970,000. FMR LLC grew its position in Alphabet by 3.8% during the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after buying an additional 4,348,188 shares in the last quarter. Cerity Partners LLC grew its position in Alphabet by 198.7% during the fourth quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock worth $547,215,000 after buying an additional 2,583,128 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Alphabet by 93.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock worth $647,064,000 after buying an additional 2,222,950 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were 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 directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. Insiders sold a total of 253,439 shares of company stock valued at $36,746,578 in the last three months. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GOOG shares. Stifel Nicolaus raised their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Raymond James raised their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Oppenheimer raised their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Susquehanna raised their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $165.67.

Alphabet Trading Up 10.0 %

NASDAQ GOOG opened at $173.69 on Friday. The company has a market cap of $2.16 trillion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. 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 twelve month low of $104.42 and a twelve month high of $176.42. The business’s fifty day moving average is $149.12 and its 200 day moving average is $142.75.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. Alphabet’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the company earned $1.17 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 6.79 EPS for the current fiscal 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.