Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Trimmed by Olstein Capital Management L.P.

Olstein Capital Management L.P. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 24.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,000 shares of the information services provider’s stock after selling 9,000 shares during the period. Olstein Capital Management L.P.’s holdings in Alphabet were worth $5,332,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GOOG. Magnolia Capital Advisors LLC boosted its holdings in shares of Alphabet by 8.6% during the second quarter. Magnolia Capital Advisors LLC now owns 11,195 shares of the information services provider’s stock valued at $2,053,000 after acquiring an additional 884 shares during the period. Wallace Advisory Group LLC boosted its stake in Alphabet by 1.3% during the 2nd quarter. Wallace Advisory Group LLC now owns 10,314 shares of the information services provider’s stock valued at $1,892,000 after purchasing an additional 134 shares during the period. High Falls Advisors Inc bought a new position in Alphabet in the 2nd quarter worth about $240,000. Wallace Capital Management Inc. increased its stake in shares of Alphabet by 6.3% in the second quarter. Wallace Capital Management Inc. now owns 8,420 shares of the information services provider’s stock valued at $1,544,000 after purchasing an additional 500 shares during the period. Finally, Newport Capital Group LLC acquired a new position in Alphabet during the 2nd quarter worth $410,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Pivotal Research boosted their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Citigroup boosted their price objective on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $205.13.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the sale, the chief accounting officer now directly owns 26,349 shares in the company, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,387 shares of company stock valued at $24,368,654 over the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG opened at $193.64 on Tuesday. The company has a 50 day moving average price of $187.95 and a two-hundred day moving average price of $175.08. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $203.84. The stock has a market capitalization of $2.37 trillion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Alphabet’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.55 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Company Profile

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.