Lathrop Investment Management Corp Sells 1,738 Shares of Alphabet Inc. (NASDAQ:GOOG)

Lathrop Investment Management Corp lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 42.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,334 shares of the information services provider’s stock after selling 1,738 shares during the period. Lathrop Investment Management Corp’s holdings in Alphabet were worth $329,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Bruce G. Allen Investments LLC acquired a new stake in shares of Alphabet during the fourth quarter valued at about $26,000. Tandem Wealth Advisors LLC acquired a new stake in shares of Alphabet during the third quarter valued at about $25,000. Equitec Proprietary Markets LLC acquired a new stake in shares of Alphabet during the fourth quarter valued at about $28,000. Buck Wealth Strategies LLC acquired a new stake in shares of Alphabet during the third quarter valued at about $32,000. Finally, Barometer Capital Management Inc. acquired a new stake in shares of Alphabet during the third quarter valued at about $32,000. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 253,439 shares of company stock valued at $36,746,578. 12.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Raymond James lifted their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note 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 note on Wednesday, January 31st. Oppenheimer lifted their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus lifted their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average price target of $165.67.

Alphabet Price Performance

Shares of GOOG opened at $173.69 on Monday. Alphabet Inc. has a 52-week low of $104.42 and a 52-week high of $176.42. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15. The business’s 50 day moving average price is $149.12 and its two-hundred day moving average price is $142.78. The firm has a market cap of $2.16 trillion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same period in the previous year, the firm earned $1.17 earnings per share. The company’s revenue was up 15.4% compared to the same quarter last year. On average, equities analysts anticipate that Alphabet Inc. will post 6.8 EPS for the current 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.