Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 71,174 shares of the information services provider’s stock after selling 311 shares during the quarter. Grimes & Company Inc.’s holdings in Alphabet were worth $13,554,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Weiss Asset Management LP acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet in the third quarter worth approximately $33,000. HWG Holdings LP acquired a new stake in Alphabet during the second quarter worth $40,000. Sanctuary Wealth Management L.L.C. raised its position in Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares during the period. Finally, Iron Horse Wealth Management LLC lifted its stake in shares of Alphabet by 32.3% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after purchasing an additional 84 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GOOG shares. JPMorgan Chase & Co. raised their price objective on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Jefferies Financial Group upped their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Citigroup lifted their target price on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, UBS Group boosted their target price on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $205.13.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,387 shares of company stock valued at $24,368,654. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Down 4.1 %

Shares of NASDAQ:GOOG opened at $193.64 on Tuesday. The company has a market cap of $2.37 trillion, a PE ratio of 25.68, a P/E/G ratio of 1.27 and a beta of 0.99. The company’s 50 day moving average is $187.95 and its two-hundred day moving average is $175.08. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $203.84. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $1.55 earnings per share. Equities analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet 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.