Jackson Hole Capital Partners LLC Sells 4,554 Shares of Alphabet Inc. (NASDAQ:GOOG)

Jackson Hole Capital Partners LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,617 shares of the information services provider’s stock after selling 4,554 shares during the quarter. Alphabet accounts for 2.7% of Jackson Hole Capital Partners LLC’s portfolio, making the stock its 7th largest holding. Jackson Hole Capital Partners LLC’s holdings in Alphabet were worth $10,516,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC acquired a new stake in Alphabet during the fourth quarter valued at approximately $26,000. Tandem Wealth Advisors LLC acquired a new stake in Alphabet during the third quarter valued at approximately $25,000. Equitec Proprietary Markets LLC bought a new position in shares of Alphabet in the fourth quarter valued at approximately $28,000. Buck Wealth Strategies LLC bought a new position in shares of Alphabet in the third quarter valued at approximately $32,000. Finally, Barometer Capital Management Inc. bought a new position in shares of Alphabet in the third quarter valued at approximately $32,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 230 shares of the company’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 completion of the sale, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 230 shares of the business’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 completion of the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 253,439 shares of company stock worth $36,746,578. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Susquehanna lifted their target price 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. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus lifted their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer lifted their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, Raymond James lifted their target price 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. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and a consensus target price of $165.67.

Alphabet Stock Performance

GOOG stock opened at $173.69 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The company has a 50 day moving average price of $149.12 and a 200 day moving average price of $142.75. Alphabet Inc. has a fifty-two week low of $104.42 and a fifty-two week high of $176.42. The stock has a market capitalization of $2.16 trillion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter in the previous year, the company posted $1.17 EPS. Alphabet’s revenue was up 15.4% on a year-over-year basis. Analysts forecast 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.