Destination Wealth Management decreased its holdings in Alphabet Inc (NASDAQ:GOOG) by 3.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,277 shares of the information services provider’s stock after selling 50 shares during the quarter. Destination Wealth Management’s holdings in Alphabet were worth $1,485,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Lighthouse Financial Advisors Inc. purchased a new stake in Alphabet in the fourth quarter worth $25,000. Cox Capital Mgt LLC bought a new stake in Alphabet in the 1st quarter worth about $27,000. Cedar Mountain Advisors LLC bought a new stake in Alphabet in the 4th quarter worth about $43,000. HighMark Wealth Management LLC bought a new stake in Alphabet in the 4th quarter worth about $44,000. Finally, TI Trust Inc. bought a new stake in Alphabet in the 4th quarter worth about $48,000. 33.00% of the stock is owned by institutional investors.

NASDAQ GOOG traded up $0.03 during trading hours on Monday, reaching $1,428.95. The company’s stock had a trading volume of 42,945 shares, compared to its average volume of 1,490,917. The firm’s 50-day moving average price is $1,324.33 and its 200-day moving average price is $1,336.35. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. Alphabet Inc has a 1 year low of $1,013.54 and a 1 year high of $1,532.11. The company has a market capitalization of $975.41 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 2.14 and a beta of 1.06.

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

In other Alphabet news, CAO Amie Thuener O’toole sold 61 shares of Alphabet stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $1,397.68, for a total value of $85,258.48. Following the sale, the chief accounting officer now owns 388 shares of the company’s stock, valued at approximately $542,299.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 60 shares of Alphabet stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $1,363.61, for a total value of $81,816.60. Following the completion of the sale, the director now directly owns 592 shares in the company, valued at approximately $807,257.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 294 shares of company stock worth $367,821. Corporate insiders own 12.99% of the company’s stock.

GOOG has been the subject of several research analyst reports. Nomura Securities lifted their price objective on Alphabet from $1,560.00 to $1,680.00 in a report on Tuesday, February 4th. ValuEngine upgraded Alphabet from a “sell” rating to a “hold” rating in a report on Thursday, March 5th. BMO Capital Markets upgraded Alphabet from a “market perform” rating to an “outperform” rating in a report on Monday, March 30th. Wedbush restated an “outperform” rating and set a $1,625.00 price target on shares of Alphabet in a research note on Tuesday, February 4th. Finally, Pivotal Research boosted their price target on Alphabet from $1,425.00 to $1,575.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $1,580.52.

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.

Read More: What does a market perform rating mean?

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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