Palisade Capital Management LLC NJ Has $22.67 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Palisade Capital Management LLC NJ cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,118 shares of the information services provider’s stock after selling 188 shares during the period. Palisade Capital Management LLC NJ’s holdings in Alphabet were worth $22,673,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of Alphabet by 1.1% during the fourth quarter. BlackRock Inc. now owns 19,196,177 shares of the information services provider’s stock worth $55,545,866,000 after purchasing an additional 205,225 shares during the period. State Street Corp lifted its holdings in Alphabet by 0.6% during the fourth quarter. State Street Corp now owns 10,608,366 shares of the information services provider’s stock worth $30,696,262,000 after acquiring an additional 58,955 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Alphabet by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 4,669,682 shares of the information services provider’s stock worth $13,474,847,000 after acquiring an additional 97,666 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Alphabet by 2.4% during the fourth quarter. JPMorgan Chase & Co. now owns 3,752,343 shares of the information services provider’s stock worth $10,857,740,000 after acquiring an additional 87,144 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Alphabet by 1.6% during the fourth quarter. Alliancebernstein L.P. now owns 3,082,944 shares of the information services provider’s stock worth $8,920,776,000 after acquiring an additional 48,928 shares in the last quarter. 31.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 31 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $2,280.98, for a total transaction of $70,710.38. Following the transaction, the director now owns 265 shares of the company’s stock, valued at $604,459.70. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 1,109 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the transaction, the senior vice president now owns 1,608 shares of the company’s stock, valued at $3,484,117.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John L. Hennessy sold 31 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $2,280.98, for a total value of $70,710.38. Following the transaction, the director now directly owns 265 shares in the company, valued at approximately $604,459.70. The disclosure for this sale can be found here. Insiders have sold a total of 42,383 shares of company stock valued at $15,761,666 over the last 90 days. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

GOOG opened at $118.22 on Friday. Alphabet Inc. has a 52-week low of $102.21 and a 52-week high of $152.10. The firm has a market capitalization of $1.56 trillion, a PE ratio of 21.99, a PEG ratio of 1.92 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. The business’s 50-day simple moving average is $156.19 and its 200 day simple moving average is $138.46.

Alphabet (NASDAQ:GOOG – Get Rating) last released its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $26.24 by ($25.03). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same period in the prior year, the business posted $27.26 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 5.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GOOG shares. JPMorgan Chase & Co. set a $140.00 target price on Alphabet in a report on Thursday, July 21st. Oppenheimer reduced their target price on Alphabet from $3,290.00 to $165.00 in a report on Tuesday, July 19th. Piper Sandler reduced their target price on Alphabet from $139.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, July 27th. Wedbush reiterated an “outperform” rating on shares of Alphabet in a report on Wednesday, April 20th. Finally, Cowen reduced their target price on Alphabet from $300.00 to $150.00 in a report on Monday, July 25th. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $158.40.

Alphabet Company Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.