RMB Capital Management LLC Decreases Holdings in Alphabet Inc (NASDAQ:GOOG)

RMB Capital Management LLC trimmed its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 2.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,067 shares of the information services provider’s stock after selling 525 shares during the period. Alphabet accounts for about 1.2% of RMB Capital Management LLC’s holdings, making the stock its 16th biggest holding. RMB Capital Management LLC’s holdings in Alphabet were worth $24,497,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. Hollencrest Capital Management raised its position in Alphabet by 0.4% during the fourth quarter. Hollencrest Capital Management now owns 1,887 shares of the information services provider’s stock worth $2,523,000 after acquiring an additional 7 shares in the last quarter. Cornerstone Wealth Group LLC raised its position in Alphabet by 3.8% during the fourth quarter. Cornerstone Wealth Group LLC now owns 189 shares of the information services provider’s stock worth $253,000 after acquiring an additional 7 shares in the last quarter. Moloney Securities Asset Management LLC raised its position in Alphabet by 0.8% during the fourth quarter. Moloney Securities Asset Management LLC now owns 939 shares of the information services provider’s stock worth $1,255,000 after acquiring an additional 7 shares in the last quarter. Dakota Wealth Management raised its position in Alphabet by 0.5% during the fourth quarter. Dakota Wealth Management now owns 1,378 shares of the information services provider’s stock worth $1,843,000 after acquiring an additional 7 shares in the last quarter. Finally, Cim LLC raised its position in Alphabet by 0.9% during the fourth quarter. Cim LLC now owns 808 shares of the information services provider’s stock worth $1,080,000 after acquiring an additional 7 shares in the last quarter. 33.61% of the stock is owned by hedge funds and other institutional investors.

Several research firms have issued reports on GOOG. Pivotal Research upped their price target on shares of Alphabet from $1,425.00 to $1,575.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. KeyCorp upped their price target on shares of Alphabet from $1,546.00 to $1,769.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Cowen upped their price objective on shares of Alphabet from $1,450.00 to $1,525.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Jefferies Financial Group reiterated a “buy” rating on shares of Alphabet in a report on Tuesday, April 28th. Finally, Susquehanna Bancshares upped their price objective on shares of Alphabet from $1,550.00 to $1,800.00 in a report on Wednesday, April 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $1,580.52.

Shares of GOOG stock traded up $7.62 on Friday, hitting $1,410.42. The company’s stock had a trading volume of 1,294,475 shares, compared to its average volume of 1,797,878. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66. The stock’s 50 day moving average is $1,284.33 and its 200-day moving average is $1,331.95. Alphabet Inc has a fifty-two week low of $1,013.54 and a fifty-two week high of $1,532.11. The company has a market capitalization of $957.58 billion, a PE ratio of 28.46, a PEG ratio of 2.10 and a beta of 1.06.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $11.27 by ($1.40). Alphabet had a net margin of 20.71% and a return on equity of 17.43%. The business had revenue of $41.16 billion during the quarter, compared to analyst estimates of $40.29 billion. During the same quarter last year, the company posted $9.50 earnings per share. The company’s revenue was up 13.3% on a year-over-year basis. On average, research analysts forecast that Alphabet Inc will post 41.47 earnings per share for the current year.

In related news, CAO Amie Thuener O’toole sold 61 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $1,397.68, for a total transaction of $85,258.48. Following the completion of the sale, the chief accounting officer now owns 388 shares of the company’s stock, valued at $542,299.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann Mather sold 34 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $1,121.18, for a total transaction of $38,120.12. Following the sale, the director now directly owns 1,119 shares of the company’s stock, valued at approximately $1,254,600.42. The disclosure for this sale can be found here. Insiders have sold 325 shares of company stock valued at $409,753 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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