Granite Investment Partners LLC Sells 19,097 Shares of Alphabet Inc. (NASDAQ:GOOG)

Granite Investment Partners LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 5.4% during the 4th quarter, HoldingsChannel reports. The firm owned 334,700 shares of the information services provider’s stock after selling 19,097 shares during the period. Alphabet comprises approximately 1.2% of Granite Investment Partners LLC’s holdings, making the stock its 15th largest holding. Granite Investment Partners LLC’s holdings in Alphabet were worth $29,698,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. DC Investments Management LLC bought a new position in shares of Alphabet during the 1st quarter valued at about $115,000. Guardian Wealth Management Inc. bought a new position in shares of Alphabet during the 1st quarter valued at about $184,000. Turim 21 Investimentos Ltda. lifted its holdings in shares of Alphabet by 10.8% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after purchasing an additional 8 shares in the last quarter. qPULA Trading Management LP bought a new position in shares of Alphabet during the 1st quarter valued at about $279,000. Finally, Wayfinding Financial LLC bought a new position in shares of Alphabet during the 4th quarter valued at about $294,000. Institutional investors own 28.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOOG. UBS Group lifted their price objective on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, April 6th. Royal Bank of Canada set a $130.00 target price on Alphabet in a research report on Friday, February 3rd. Sanford C. Bernstein set a $130.00 target price on Alphabet in a research report on Monday, February 6th. Roth Capital reissued a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Finally, The Goldman Sachs Group set a $128.00 target price on Alphabet in a research report on Friday, February 3rd. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $132.80.

Alphabet Stock Performance

Shares of GOOG stock traded up $1.54 during trading on Friday, reaching $125.89. 11,945,890 shares of the company’s stock were exchanged, compared to its average volume of 29,757,766. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.60 trillion, a PE ratio of 27.53, a PEG ratio of 1.55 and a beta of 1.10. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $127.05. The firm’s fifty day moving average price is $109.26 and its 200-day moving average price is $99.67.

Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.11. The business had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $68.80 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 5.41 EPS for the current year.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the sale, the senior vice president now directly owns 76,580 shares in the company, valued at approximately $7,922,966.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ann Mather sold 380 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $90.05, for a total transaction of $34,219.00. Following the completion of the sale, the director now directly owns 11,300 shares in the company, valued at approximately $1,017,565. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the sale, the senior vice president now owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The disclosure for this sale can be found here. In the last ninety days, insiders bought 732,217 shares of company stock worth $21,135,371 and sold 753,384 shares worth $30,574,577. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.