Osborne Partners Capital Management LLC Sells 6,738 Shares of Alphabet Inc. (NASDAQ:GOOG)

Osborne Partners Capital Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 149,406 shares of the information services provider’s stock after selling 6,738 shares during the period. Alphabet accounts for 1.6% of Osborne Partners Capital Management LLC’s holdings, making the stock its 12th biggest holding. Osborne Partners Capital Management LLC’s holdings in Alphabet were worth $28,453,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Weiss Asset Management LP purchased a new position in Alphabet during the 3rd quarter worth $25,000. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the fourth quarter valued at about $27,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet during the third quarter worth about $33,000. Sanctuary Wealth Management L.L.C. grew its position in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares in the last quarter. Finally, Iron Horse Wealth Management LLC increased its stake in Alphabet by 32.3% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after buying an additional 84 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays upped their target price on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Pivotal Research increased their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, UBS Group boosted their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Trading Down 6.9 %

Shares of Alphabet stock opened at $193.30 on Thursday. The company’s 50-day moving average price is $191.88 and its 200-day moving average price is $175.91. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70. The company has a market cap of $2.37 trillion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.32 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. On average, equities analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,529 shares of company stock worth $16,600,078 over the last ninety days. 12.99% of the stock is owned by corporate insiders.

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.