Alphabet Inc. (NASDAQ:GOOG) Stock Position Lowered by SOL Capital Management CO

SOL Capital Management CO reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 15,079 shares of the information services provider’s stock after selling 350 shares during the quarter. SOL Capital Management CO’s holdings in Alphabet were worth $2,872,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Gilbert & Cook Inc. increased its stake in Alphabet by 13.7% in the 4th quarter. Gilbert & Cook Inc. now owns 36,374 shares of the information services provider’s stock worth $6,927,000 after purchasing an additional 4,383 shares in the last quarter. EMC Capital Management increased its position in shares of Alphabet by 178.7% in the fourth quarter. EMC Capital Management now owns 105,250 shares of the information services provider’s stock worth $20,044,000 after acquiring an additional 67,479 shares in the last quarter. Crews Bank & Trust purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $2,899,000. Capital Investment Advisory Services LLC boosted its stake in Alphabet by 2.3% in the 4th quarter. Capital Investment Advisory Services LLC now owns 76,537 shares of the information services provider’s stock worth $14,576,000 after purchasing an additional 1,725 shares during the period. Finally, Cairn Investment Group Inc. purchased a new position in Alphabet during the 4th quarter worth approximately $209,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GOOG. Pivotal Research upped their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Oppenheimer increased their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday. Canaccord Genuity Group boosted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Wedbush reissued an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $205.60 on Monday. The stock has a market capitalization of $2.52 trillion, a PE ratio of 27.27, a P/E/G ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $207.08. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business has a fifty day moving average price of $190.48 and a two-hundred day moving average price of $175.60.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,189 shares of company stock valued at $22,182,696 over the last quarter. 12.99% of the stock is owned by company insiders.

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.