Hanson & Doremus Investment Management Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Hanson & Doremus Investment Management increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,975 shares of the information services provider’s stock after buying an additional 625 shares during the period. Alphabet accounts for about 0.9% of Hanson & Doremus Investment Management’s holdings, making the stock its 18th largest holding. Hanson & Doremus Investment Management’s holdings in Alphabet were worth $4,606,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Narus Financial Partners LLC boosted its stake in Alphabet by 3.0% during the 4th quarter. Narus Financial Partners LLC now owns 9,623 shares of the information services provider’s stock valued at $1,344,000 after purchasing an additional 283 shares during the last quarter. Fiduciary Planning LLC boosted its stake in Alphabet by 8.8% during the 4th quarter. Fiduciary Planning LLC now owns 9,151 shares of the information services provider’s stock valued at $1,278,000 after purchasing an additional 738 shares during the last quarter. Wolff Financial Management LLC purchased a new stake in Alphabet during the 4th quarter valued at $258,000. Confluence Wealth Services Inc. boosted its stake in Alphabet by 3.4% during the 4th quarter. Confluence Wealth Services Inc. now owns 27,971 shares of the information services provider’s stock valued at $3,907,000 after purchasing an additional 909 shares during the last quarter. Finally, Altus Wealth Management LLC boosted its stake in Alphabet by 10.7% during the 4th quarter. Altus Wealth Management LLC now owns 3,695 shares of the information services provider’s stock valued at $516,000 after purchasing an additional 356 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 1.8 %

GOOGL opened at $154.86 on Tuesday. The firm has a market cap of $1.93 trillion, a P/E ratio of 26.70, a P/E/G ratio of 1.46 and a beta of 1.05. Alphabet Inc. has a 12 month low of $102.63 and a 12 month high of $160.22. 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 50-day moving average of $145.55 and a 200 day moving average of $140.02.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter last year, the business posted $1.05 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 6.78 EPS for the current year.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 251,339 shares of company stock worth $36,033,907. Corporate insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on GOOGL. Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Wolfe Research increased their price target on Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Wells Fargo & Company lowered their price target on Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 3rd. StockNews.com raised Alphabet from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 20th. Finally, Barclays lowered their price target on Alphabet from $180.00 to $173.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.61.

About Alphabet

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.