Larson Financial Group LLC Lowers Stake in Alphabet Inc. (NASDAQ:GOOG)

Larson Financial Group LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.8% in the 4th quarter, Holdings Channel reports. The fund owned 38,431 shares of the information services provider’s stock after selling 1,126 shares during the quarter. Larson Financial Group LLC’s holdings in Alphabet were worth $5,416,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Tandem Wealth Advisors LLC purchased a new position in shares of Alphabet in the 3rd quarter worth about $25,000. Bruce G. Allen Investments LLC bought a new stake in Alphabet in the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC bought a new stake in Alphabet in the 4th quarter worth approximately $28,000. Buck Wealth Strategies LLC purchased a new stake in Alphabet in the third quarter worth approximately $32,000. Finally, Barometer Capital Management Inc. bought a new position in Alphabet during the third quarter valued at approximately $32,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $161.10 on Thursday. The firm has a fifty day simple moving average of $148.20 and a two-hundred day simple moving average of $142.40. The firm has a market cap of $2.00 trillion, a PE ratio of 27.78, a P/E/G ratio of 1.47 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1-year low of $103.27 and a 1-year high of $161.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. During the same quarter in the prior year, the business earned $1.05 earnings per share. Alphabet’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, equities analysts anticipate that Alphabet Inc. will post 6.79 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Susquehanna upped their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Stifel Nicolaus increased their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Raymond James boosted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Finally, Oppenheimer boosted their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet presently has an average rating of “Buy” and an average price target of $159.86.

Insider Activity

In related 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 transaction, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the transaction, the chief executive officer now owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock valued at $36,377,482 in the last 90 days. Company insiders own 12.99% of the company’s stock.

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.