Greenwood Gearhart Inc. Reduces Holdings in Alphabet Inc. (NASDAQ:GOOG)

Greenwood Gearhart Inc. cut its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 170,921 shares of the information services provider's stock after selling 2,848 shares during the quarter. Alphabet makes up about 1.8% of Greenwood Gearhart Inc.'s holdings, making the stock its 21st biggest holding. Greenwood Gearhart Inc.'s holdings in Alphabet were worth $26,703,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. LSV Asset Management purchased a new stake in Alphabet during the 4th quarter valued at about $27,000. Principia Wealth Advisory LLC grew its position in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new stake in Alphabet during the 1st quarter valued at about $26,000. WealthTrak Capital Management LLC purchased a new stake in Alphabet during the 4th quarter valued at about $38,000. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in Alphabet during the 4th quarter valued at about $39,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of Alphabet stock traded up $1.83 on Thursday, hitting $193.34. 38,408,297 shares of the company traded hands, compared to its average volume of 24,185,656. The stock has a market capitalization of $2.35 trillion, a P/E ratio of 21.55, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The business has a 50-day simple moving average of $175.77 and a 200 day simple moving average of $174.72.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter in the previous year, the business posted $1.89 earnings per share. Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Pivotal Research increased their price objective on shares of Alphabet from $225.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday. Needham & Company LLC downgraded shares of Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Barclays reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Westpark Capital reaffirmed a "buy" rating and set a $210.00 price target on shares of Alphabet in a report on Friday, April 25th. Finally, Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $215.19.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 400 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $181.98, for a total value of $72,792.00. Following the sale, the director owned 6,013 shares in the company, valued at approximately $1,094,245.74. The trade was a 6.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 249,409 shares of company stock worth $43,523,710. Insiders own 12.99% of the company's stock.

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.