SVB Wealth LLC Sells 37,813 Shares of Alphabet Inc. (NASDAQ:GOOG)

SVB Wealth LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 12.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 260,663 shares of the information services provider's stock after selling 37,813 shares during the period. Alphabet accounts for approximately 0.9% of SVB Wealth LLC's holdings, making the stock its 20th biggest position. SVB Wealth LLC's holdings in Alphabet were worth $36,735,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. First American Trust FSB boosted its position in Alphabet by 235.6% during the 4th quarter. First American Trust FSB now owns 11,387 shares of the information services provider's stock worth $1,605,000 after acquiring an additional 7,994 shares during the period. Hamilton Point Investment Advisors LLC grew its position in Alphabet by 2.0% in the 4th quarter. Hamilton Point Investment Advisors LLC now owns 90,204 shares of the information services provider's stock valued at $12,713,000 after buying an additional 1,776 shares in the last quarter. Members Trust Co grew its position in Alphabet by 13.1% in the 4th quarter. Members Trust Co now owns 3,448 shares of the information services provider's stock valued at $487,000 after buying an additional 400 shares in the last quarter. Flputnam Investment Management Co. increased its stake in Alphabet by 20.4% during the 4th quarter. Flputnam Investment Management Co. now owns 129,688 shares of the information services provider's stock valued at $18,277,000 after buying an additional 22,012 shares during the period. Finally, Capital Analysts LLC raised its position in shares of Alphabet by 3.8% during the 4th quarter. Capital Analysts LLC now owns 25,568 shares of the information services provider's stock worth $3,604,000 after buying an additional 928 shares in the last quarter. Institutional investors own 27.26% of the company's stock.

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 230 shares of the firm's stock in a transaction 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 sale, the director now owns 15,104 shares of the company's stock, valued at $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Amie Thuener O'toole sold 660 shares of the business's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares of the company's stock, valued at $4,009,032.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 230 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold a total of 251,339 shares of company stock valued at $36,377,482 in the last three months. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Up 0.4 %

Shares of NASDAQ:GOOG traded up $0.58 during midday trading on Thursday, reaching $157.46. The company had a trading volume of 14,005,651 shares, compared to its average volume of 22,228,154. The company has a fifty day simple moving average of $147.15 and a two-hundred day simple moving average of $141.61. 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 firm has a market cap of $1.96 trillion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a 1-year low of $103.27 and a 1-year high of $161.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm's quarterly revenue was up 13.5% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. Research analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GOOG. Raymond James raised 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 lifted their price target on Alphabet from $172.00 to $185.00 and gave the company an "outperform" rating in a research report on Monday, April 8th. Stifel Nicolaus upped their price objective on Alphabet from $154.00 to $174.00 and gave the company a "buy" rating in a report on Tuesday. Susquehanna lifted their target price on Alphabet from $150.00 to $170.00 and gave the stock a "positive" rating in a report on Wednesday, January 31st. Finally, Morgan Stanley reissued an "overweight" rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet presently has an average rating of "Buy" and an average price target of $159.86.

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.