Cohen Capital Management Inc. Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Cohen Capital Management Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 10,420 shares of the information services provider’s stock after selling 900 shares during the quarter. Cohen Capital Management Inc.’s holdings in Alphabet were worth $1,468,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOG. FMR LLC boosted its stake in Alphabet by 3.8% in the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after acquiring an additional 4,348,188 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after acquiring an additional 9,703,425 shares in the last quarter. Northern Trust Corp boosted its stake in Alphabet by 2.3% in the third quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after acquiring an additional 1,275,060 shares in the last quarter. Sanders Capital LLC boosted its stake in Alphabet by 0.3% in the third quarter. Sanders Capital LLC now owns 27,744,572 shares of the information services provider’s stock valued at $3,658,122,000 after acquiring an additional 92,741 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Alphabet by 2.0% in the third quarter. Jennison Associates LLC now owns 19,822,203 shares of the information services provider’s stock valued at $2,613,557,000 after acquiring an additional 390,118 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on GOOG. Morgan Stanley restated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Susquehanna increased their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Oppenheimer increased their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Raymond James increased their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Finally, Stifel Nicolaus increased their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $159.86.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a filing with the SEC, which is available at this link. In other Alphabet news, Director John L. Hennessy sold 800 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 251,339 shares of company stock valued at $36,377,482. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.7 %

NASDAQ GOOG opened at $161.10 on Thursday. The stock has a market capitalization of $2.00 trillion, a P/E ratio of 27.78, a P/E/G ratio of 1.47 and a beta of 1.05. Alphabet Inc. has a 52-week low of $103.27 and a 52-week high of $161.70. The firm has a 50-day moving average price of $148.20 and a 200 day moving average price of $142.40. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 earnings per share. Equities research analysts expect that Alphabet Inc. will post 6.79 EPS for the current year.

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.