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

SVB Wealth LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 12.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 260,663 shares of the information services provider’s stock after selling 37,813 shares during the period. Alphabet accounts for about 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 reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tandem Wealth Advisors LLC purchased a new stake in shares of Alphabet in the third quarter worth approximately $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Alphabet in the fourth quarter worth approximately $26,000. HWG Holdings LP purchased a new stake in shares of Alphabet in the second quarter worth approximately $26,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $28,000. Finally, Buck Wealth Strategies LLC purchased a new stake in shares of Alphabet during the third quarter valued at approximately $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Frances Arnold sold 230 shares of Alphabet 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 transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director John L. Hennessy sold 300 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total transaction of $41,853.00. Following the completion of the transaction, the director now directly owns 9,291 shares in the company, valued at $1,296,187.41. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 251,339 shares of company stock worth $36,377,482. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOG opened at $156.88 on Thursday. The firm has a market cap of $1.95 trillion, a PE ratio of 27.05, a PEG ratio of 1.44 and a beta of 1.05. The stock’s fifty day moving average price is $147.15 and its two-hundred day moving average price is $141.61. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet Inc. has a 1 year low of $103.27 and a 1 year high of $161.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 6.78 EPS for the current year.

Analyst Ratings Changes

GOOG has been the subject of a number of research analyst reports. Raymond James increased their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus increased their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday. Oppenheimer increased 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. Finally, Susquehanna boosted their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $159.86.

About Alphabet

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.