Alphabet Inc. (NASDAQ:GOOG) Stock Position Trimmed by Noesis Capital Mangement Corp

Noesis Capital Mangement Corp cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 165,145 shares of the information services provider’s stock after selling 337 shares during the period. Alphabet accounts for about 5.5% of Noesis Capital Mangement Corp’s portfolio, making the stock its largest position. Noesis Capital Mangement Corp’s holdings in Alphabet were worth $23,274,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in Alphabet by 3.8% in the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after buying an additional 4,348,188 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after acquiring an additional 9,703,425 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Alphabet by 2.3% in the third quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock worth $7,550,942,000 after acquiring an additional 1,275,060 shares during the last quarter. Sanders Capital LLC raised its holdings in shares of Alphabet by 0.3% in the third quarter. Sanders Capital LLC now owns 27,744,572 shares of the information services provider’s stock worth $3,658,122,000 after acquiring an additional 92,741 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Alphabet by 2.0% in the third quarter. Jennison Associates LLC now owns 19,822,203 shares of the information services provider’s stock worth $2,613,557,000 after acquiring an additional 390,118 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 equities research analysts have recently commented on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Susquehanna increased their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Oppenheimer boosted 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. Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Raymond James boosted their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $165.67.

Alphabet Stock Up 0.3 %

Shares of NASDAQ:GOOG traded up $0.53 during trading on Friday, hitting $168.99. The company’s stock had a trading volume of 22,767,056 shares, compared to its average volume of 22,353,938. The company has a market capitalization of $2.10 trillion, a PE ratio of 25.92, a PEG ratio of 1.26 and a beta of 1.02. Alphabet Inc. has a fifty-two week low of $104.70 and a fifty-two 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 stock’s 50-day moving average price is $151.46 and its two-hundred day moving average price is $143.74.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the previous year, the business earned $1.17 EPS. Alphabet’s revenue for the quarter was up 15.4% compared to the same quarter last year. As a group, sell-side analysts expect that Alphabet Inc. will post 7.66 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now 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 this link. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $149.73, for a total value of $119,784.00. Following the completion of the sale, the director now directly owns 7,164 shares in the company, valued at approximately $1,072,665.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 275,129 shares of company stock worth $40,382,765. 12.99% of the stock is currently owned by corporate insiders.

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.