Carson Advisory Inc. Sells 831 Shares of Alphabet Inc. (NASDAQ:GOOG)

Carson Advisory Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 17.4% in the third quarter, Holdings Channel.com reports. The firm owned 3,935 shares of the information services provider’s stock after selling 831 shares during the quarter. Carson Advisory Inc.’s holdings in Alphabet were worth $519,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Artisan Partners Limited Partnership lifted its position in Alphabet by 4.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,400,419 shares of the information services provider’s stock worth $184,645,000 after buying an additional 53,498 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd lifted its position in Alphabet by 13.0% during the 3rd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 59,382 shares of the information services provider’s stock worth $7,830,000 after buying an additional 6,818 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Alphabet by 18.3% during the 3rd quarter. Canada Pension Plan Investment Board now owns 5,195,299 shares of the information services provider’s stock worth $685,000,000 after buying an additional 802,099 shares in the last quarter. Herold Advisors Inc. lifted its position in Alphabet by 7.8% during the 3rd quarter. Herold Advisors Inc. now owns 13,759 shares of the information services provider’s stock worth $1,814,000 after buying an additional 1,000 shares in the last quarter. Finally, Financial Security Advisor Inc. bought a new stake in Alphabet during the 3rd quarter worth about $912,000. 27.13% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Alphabet stock traded up $0.54 during trading hours on Thursday, hitting $147.22. The company had a trading volume of 18,192,625 shares, compared to its average volume of 21,735,330. The firm has a market cap of $1.84 trillion, a PE ratio of 25.37, a PEG ratio of 1.35 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet Inc. has a one year low of $88.86 and a one year high of $155.20. The firm has a 50-day moving average of $141.54 and a 200 day moving average of $136.51.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business’s revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 6.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several analyst reports. Raymond James boosted their price target on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Oppenheimer reaffirmed an “outperform” rating and issued a $160.00 target price on shares of Alphabet in a report on Wednesday, October 25th. Finally, Susquehanna upped their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $142.29.

Get Our Latest Analysis on Alphabet

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $141.43, for a total transaction of $3,182,175.00. Following the transaction, the chief executive officer now owns 2,407,688 shares in the company, valued at approximately $340,519,313.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders have sold a total of 114,674 shares of company stock valued at $16,162,276 in the last three months. 12.99% of the stock is currently owned by company insiders.

Alphabet Company Profile

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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