Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 5.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,588 shares of the information services provider’s stock after buying an additional 481 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Alphabet were worth $1,210,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOG. Totem Point Management LLC lifted its stake in Alphabet by 22.0% in the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after buying an additional 571 shares in the last quarter. Somerville Kurt F lifted its stake in shares of Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after purchasing an additional 11 shares during the period. BCK Partners Inc. purchased a new position in shares of Alphabet during the 1st quarter worth $2,564,000. Hall Capital Management Co. Inc. lifted its stake in shares of Alphabet by 53.2% during the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after purchasing an additional 50 shares during the period. Finally, Fairfield Bush & CO. lifted its stake in shares of Alphabet by 6.8% during the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after purchasing an additional 214 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GOOG shares. Raymond James increased their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna increased their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $146.33.

Get Our Latest Analysis on GOOG

Alphabet Trading Down 0.4 %

Shares of GOOG opened at $155.87 on Wednesday. Alphabet Inc. has a twelve month low of $102.38 and a twelve month high of $157.00. The firm has a market capitalization of $1.94 trillion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock’s fifty day simple moving average is $145.15 and its 200 day simple moving average is $139.74.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. During the same period in the prior year, the firm earned $1.05 EPS. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, equities research analysts forecast that Alphabet Inc. will post 6.77 earnings per share for the current year.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $143.49, for a total value of $28,698.00. Following the completion of the transaction, the director now directly owns 6,784 shares in the company, valued at $973,436.16. The disclosure for this sale can be found here. In the last three months, insiders sold 228,239 shares of company stock worth $32,432,382. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.