Tandem Capital Management Corp ADV Sells 858 Shares of Alphabet Inc. (NASDAQ:GOOG)

Tandem Capital Management Corp ADV lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,316 shares of the information services provider’s stock after selling 858 shares during the quarter. Alphabet accounts for approximately 1.9% of Tandem Capital Management Corp ADV’s investment portfolio, making the stock its 17th biggest holding. Tandem Capital Management Corp ADV’s holdings in Alphabet were worth $3,004,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in GOOG. JPMorgan Chase & Co. lifted its position in shares of Alphabet by 11.3% in 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 purchasing an additional 9,703,425 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Alphabet during the fourth quarter worth $11,600,970,000. FMR LLC raised 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 acquiring an additional 4,348,188 shares in the last quarter. Cerity Partners LLC raised 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 acquiring an additional 2,583,128 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised 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 acquiring an additional 2,222,950 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on GOOG shares. Susquehanna upped their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Oppenheimer upped their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Raymond James upped their price objective 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 upped their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and an average target price of $165.67.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the transaction, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the transaction, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 253,439 shares of company stock valued at $36,746,578. 12.99% of the stock is currently owned by insiders.

Alphabet Trading Up 10.0 %

Shares of Alphabet stock opened at $173.69 on Friday. The company has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 26.64, a PEG 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 12-month low of $104.42 and a 12-month high of $176.42. The firm’s 50-day moving average price is $149.12 and its two-hundred day moving average price is $142.75.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 earnings per share. On average, analysts forecast that Alphabet Inc. will post 6.79 earnings per share 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.