Alphabet Inc. (NASDAQ:GOOG) Stake Lifted by Everence Capital Management Inc.

Everence Capital Management Inc. raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 127,440 shares of the information services provider’s stock after buying an additional 2,490 shares during the period. Alphabet comprises approximately 1.3% of Everence Capital Management Inc.’s investment portfolio, making the stock its 12th biggest position. Everence Capital Management Inc.’s holdings in Alphabet were worth $17,960,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in GOOG. Veracity Capital LLC lifted its position in Alphabet by 12.4% in the 4th 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 raised its holdings in shares of Alphabet by 25.3% during the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after purchasing an additional 1,230 shares in the last quarter. Washington Trust Bank raised its holdings in shares of Alphabet by 33.0% during 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 in the last quarter. CNB Bank raised its holdings in shares of Alphabet by 6.6% during 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 raised its holdings 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 valued at $1,086,000 after purchasing an additional 155 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated 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 of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock valued at $36,377,482 in the last ninety days. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent research reports. Oppenheimer raised their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Susquehanna raised their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Morgan Stanley restated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Raymond James raised their target price 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, Stifel Nicolaus raised their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $159.86.

Alphabet Price Performance

NASDAQ:GOOG opened at $157.46 on Friday. The company has a 50-day moving average of $147.35 and a 200-day moving average of $141.72. The company has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.45 and a beta of 1.05. Alphabet Inc. has a 52 week low of $103.27 and a 52 week high of $161.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the firm earned $1.05 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

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.