Hosking Partners LLP Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

Hosking Partners LLP trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 8.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 778,052 shares of the information services provider’s stock after selling 74,563 shares during the quarter. Alphabet accounts for 4.5% of Hosking Partners LLP’s investment portfolio, making the stock its biggest holding. Hosking Partners LLP’s holdings in Alphabet were worth $102,586,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Tandem Wealth Advisors LLC acquired a new stake in shares of Alphabet in the 3rd quarter valued at $25,000. HWG Holdings LP acquired a new stake in shares of Alphabet in the 2nd quarter valued at $26,000. OLD Point Trust & Financial Services N A acquired a new stake in shares of Alphabet in the 2nd quarter valued at $31,000. Intrepid Capital Management Inc. acquired a new stake in shares of Alphabet in the 2nd quarter valued at $31,000. Finally, Buck Wealth Strategies LLC acquired a new stake in shares of Alphabet in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 27.13% of the company’s stock.

Alphabet Stock Performance

GOOG opened at $144.93 on Tuesday. The firm has a market capitalization of $1.81 trillion, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 1.33 and a beta of 1.06. 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 $88.86 and a 12-month high of $155.20. The stock’s 50 day moving average price is $141.20 and its two-hundred day moving average price is $136.26.

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

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 16,088 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $139.10, for a total value of $2,237,840.80. Following the transaction, the senior vice president now owns 52,440 shares of the company’s stock, valued at $7,294,404. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related 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 value of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 16,088 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $139.10, for a total transaction of $2,237,840.80. Following the sale, the senior vice president now owns 52,440 shares in the company, valued at $7,294,404. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,674 shares of company stock valued at $16,162,276. 12.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GOOG shares. Raymond James lifted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Oppenheimer reiterated an “outperform” rating and issued a $160.00 price objective on shares of Alphabet in a research note on Wednesday, October 25th. Finally, Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet has an average rating of “Buy” and a consensus price target of $140.75.

Read Our Latest Research Report on Alphabet

Alphabet 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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