ST Germain D J Co. Inc. Lowers Holdings in Alphabet Inc. (NASDAQ:GOOG)

ST Germain D J Co. Inc. reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,572 shares of the information services provider’s stock after selling 1,346 shares during the period. ST Germain D J Co. Inc.’s holdings in Alphabet were worth $13,638,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in GOOG. Gulf International Bank UK Ltd lifted its stake in Alphabet by 0.4% in the first quarter. Gulf International Bank UK Ltd now owns 436,334 shares of the information services provider’s stock worth $66,436,000 after acquiring an additional 1,752 shares during the last quarter. O Connor Financial Group LLC acquired a new position in shares of Alphabet during the first quarter worth $215,000. MJP Associates Inc. ADV increased its holdings in Alphabet by 20.8% in the first quarter. MJP Associates Inc. ADV now owns 9,741 shares of the information services provider’s stock valued at $1,483,000 after buying an additional 1,677 shares during the last quarter. Running Oak Capital LLC lifted its holdings in Alphabet by 10.3% during the 1st quarter. Running Oak Capital LLC now owns 72,683 shares of the information services provider’s stock worth $11,067,000 after buying an additional 6,759 shares during the last quarter. Finally, Sanders Morris Harris LLC boosted its position in shares of Alphabet by 8.2% during the 1st quarter. Sanders Morris Harris LLC now owns 20,886 shares of the information services provider’s stock worth $3,180,000 after acquiring an additional 1,576 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group cut their target price on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. TD Cowen boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Scotiabank began coverage on shares of Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price on the stock. Pivotal Research started coverage on shares of Alphabet in a research report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price target for the company. Finally, Oppenheimer cut their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $186.90.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This trade represents a 0.00 % 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. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 700 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the transaction, the director now owns 29,324 shares in the company, valued at $4,838,460. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock valued at $35,993,340 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.3 %

NASDAQ:GOOG opened at $165.05 on Friday. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock’s 50 day simple moving average is $163.18 and its 200-day simple moving average is $169.67. The firm has a market cap of $2.04 trillion, a P/E ratio of 25.31, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period last year, the firm posted $1.44 EPS. Equities analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet 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.