Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Riggs Asset Managment Co. Inc.

Riggs Asset Managment Co. Inc. increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,778 shares of the information services provider’s stock after acquiring an additional 721 shares during the period. Alphabet makes up about 2.1% of Riggs Asset Managment Co. Inc.’s holdings, making the stock its 15th largest holding. Riggs Asset Managment Co. Inc.’s holdings in Alphabet were worth $6,592,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Veracity Capital LLC grew its position in shares of Alphabet by 12.4% during the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after buying an additional 1,173 shares in the last quarter. Independence Bank of Kentucky grew its holdings in Alphabet by 25.3% during the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock worth $859,000 after acquiring an additional 1,230 shares in the last quarter. Washington Trust Bank increased its position in shares of Alphabet by 33.0% in the 3rd quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock valued at $970,000 after purchasing an additional 1,826 shares during the last quarter. CNB Bank raised its holdings in shares of Alphabet by 6.6% in the 3rd quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock valued at $3,655,000 after purchasing an additional 1,710 shares in the last quarter. Finally, Sloy Dahl & Holst LLC lifted its position in shares of Alphabet by 1.9% during the 3rd quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock worth $1,086,000 after purchasing an additional 155 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John L. Hennessy sold 300 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total transaction of $41,853.00. Following the completion of the sale, the director now directly owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 251,339 shares of company stock worth $36,377,482. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $157.95 on Tuesday. 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 has a market cap of $1.96 trillion, a P/E ratio of 27.23, a P/E/G ratio of 1.44 and a beta of 1.05. The stock has a 50 day moving average of $147.65 and a two-hundred day moving average of $142.12. Alphabet Inc. has a twelve month low of $103.27 and a twelve month high of $161.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. Alphabet’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 EPS. On average, research analysts forecast that Alphabet Inc. will post 6.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Stifel Nicolaus raised their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer raised their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Susquehanna boosted their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Raymond James increased their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Finally, Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet presently has a consensus rating of “Buy” and a consensus target price of $159.86.

Alphabet Company 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.