Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Ridgecrest Wealth Partners LLC

Ridgecrest Wealth Partners LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 1.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 25,222 shares of the information services provider’s stock after selling 500 shares during the quarter. Alphabet accounts for approximately 2.3% of Ridgecrest Wealth Partners LLC’s investment portfolio, making the stock its 12th largest position. Ridgecrest Wealth Partners LLC’s holdings in Alphabet were worth $3,555,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Totem Point Management LLC raised its position in shares of Alphabet by 22.0% during the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after purchasing an additional 571 shares during the period. Somerville Kurt F raised its holdings in Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after buying an additional 11 shares during the period. BCK Partners Inc. purchased a new stake in Alphabet during the first quarter valued at about $2,564,000. Hall Capital Management Co. Inc. boosted its holdings in shares of Alphabet by 53.2% in the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after buying an additional 50 shares during the period. Finally, Fairfield Bush & CO. increased its position in shares of Alphabet by 6.8% in the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after acquiring an additional 214 shares in the last quarter. 27.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, Director Frances Arnold sold 230 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Insiders have sold 279,159 shares of company stock worth $39,220,185 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOG opened at $142.17 on Friday. The company has a market capitalization of $1.77 trillion, a PE ratio of 24.51, a PEG ratio of 1.30 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The company’s 50 day moving average price is $143.64 and its 200 day moving average price is $138.63. Alphabet Inc. has a 52 week low of $95.87 and a 52 week high of $155.20.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. During the same period in the previous year, the company posted $1.05 EPS. Alphabet’s revenue was up 13.5% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GOOG shares. Susquehanna upped their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Raymond James increased their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $146.33.

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Alphabet Profile

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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