West Coast Financial LLC Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)



West Coast Financial LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 15.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 499 shares of the information services provider’s stock after selling 94 shares during the period. West Coast Financial LLC’s holdings in Alphabet were worth $1,394,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Concord Wealth Partners lifted its holdings in shares of Alphabet by 18.4% during the first quarter. Concord Wealth Partners now owns 411 shares of the information services provider’s stock valued at $1,148,000 after purchasing an additional 64 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in shares of Alphabet by 18.2% during the first quarter. Wedbush Securities Inc. Now owns 5,854 shares of the information services provider’s stock valued at $16,253,000 after purchasing an additional 902 during the last quarter. Foundations Investment Advisors LLC raised its holdings in Alphabet by 78.0% in the 1st quarter. Foundations Investment Advisors LLC now owns 331 shares of the information services provider’s stock worth $842,000 after acquiring an additional 145 shares during the last quarter. KMG Fiduciary Partners LLC raised its holdings in Alphabet by 2.2% in the 1st quarter. KMG Fiduciary Partners LLC now owns 845 shares of the information services provider’s stock worth $2,360,000 after acquiring an additional 18 shares during the last quarter. Finally, Icon Wealth Partners LLC raised its holdings in Alphabet by 13.3% in the 1st quarter. Icon Wealth Partners LLC now owns 4,133 shares of the information services provider’s stock worth $11,543,000 after acquiring an additional 486 shares during the last quarter. Hedge funds and other institutional investors own 31.20% of the company’s stock.

Shares of Alphabet stock opened at $2,181.62 on Friday. The company has a market capitalization of $1.44 trillion, a P/E ratio of 19.73, a P/E/G ratio of 1.16 and a beta of 1.13. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87. The company has a fifty day moving average of $2,270.13 and a 200 day moving average of $2,571.29. Alphabet Inc. has a fifty-two week low of $2,044.16 and a fifty-two week high of $3,042.00.

Alphabet’s stock is going to split on the morning of Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be payable to shareholders after the market closes on Friday, July 15th.

Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The information services provider reported $24.62 EPS for the quarter, missing the consensus estimate of $25.70 by ($1.08). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. The company had revenue of $56.02 billion for the quarter, compared to the consensus estimate of $56.17 billion. During the same period last year, the company earned $26.29 EPS. Analysts forecast that Alphabet Inc. will post 110.83 EPS for the current year.

A number of equities analysts recently weighed in on the stock. Raymond James decreased their price objective on shares of Alphabet from $3,630.00 to $3,180.00 in a report on Wednesday, April 27th. Oppenheimer restated an “outperform” rating and issued a $3,290.00 price objective on shares of Alphabet in a report on Thursday, April 28th. Tigress Financial boosted their objective price on shares of Alphabet from $3,540.00 to $3,670.00 in a report on Friday, March 18th. JPMorgan Chase & Co. decreased their price objective on shares of Alphabet from $3,450.00 to $3,200.00 in a report on Wednesday, April 27th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Alphabet from $3,150.00 to $2,900.00 in a research note on Wednesday, April 27th. Twenty-nine research analysts have rated the stock with a buy rating, according to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $3,315.38.

In other news, SVP Prabhakar Raghavan sold 1,276 shares of the company’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $2,816.49, for a total transaction of $3,593,841.24. Following the sale, the senior vice president now directly owns 14,034 shares in the company, valued at approximately $39,526,620.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder 2016 Gp LLC Gv sold 544,249 shares of the company’s stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $11.16, for a total transaction of $6,073,818.84. The disclosure for this sale can be found here. Insiders have sold a total of 552,804 shares of company stock valued at $27,991,403 in the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Profile (Get Rating)

Alphabet Inc provides 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 Pets segments. The Google Services segment offers 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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