Morton Capital Management LLC CA Buys 124 Shares of Alphabet Inc. (NASDAQ:GOOG)

Morton Capital Management LLC CA grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,429 shares of the information services provider’s stock after buying an additional 124 shares during the quarter. Alphabet makes up 0.4% of Morton Capital Management LLC CA’s holdings, making the stock its 25th biggest holding. Morton Capital Management LLC CA’s holdings in Alphabet were worth $1,329,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Tandem Wealth Advisors LLC acquired a new stake in Alphabet during the 3rd quarter valued at approximately $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $26,000. HWG Holdings LP bought a new position in Alphabet during the second quarter worth $26,000. Intrepid Capital Management Inc. acquired a new position in Alphabet in the second quarter valued at $31,000. Finally, Buck Wealth Strategies LLC acquired a new stake in Alphabet during the 3rd quarter worth about $32,000. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent analyst reports. Susquehanna boosted their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Raymond James increased their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet has an average rating of “Buy” and a consensus price target of $146.33.

Alphabet Stock Performance

Shares of GOOG opened at $152.26 on Friday. The stock has a 50-day moving average of $144.75 and a 200-day moving average of $139.39. Alphabet Inc. has a one year low of $100.29 and a one year high of $155.20. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The company has a market cap of $1.89 trillion, a PE ratio of 26.25, a P/E/G ratio of 1.40 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $85.28 billion. During the same quarter last year, the firm posted $1.05 earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, equities research analysts predict that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 425 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $139.61, for a total value of $59,334.25. Following the transaction, the chief accounting officer now directly owns 27,259 shares of the company’s stock, valued at $3,805,628.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 425 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $139.61, for a total value of $59,334.25. Following the transaction, the chief accounting officer now owns 27,259 shares in the company, valued at $3,805,628.99. The disclosure for this sale can be found here. In the last 90 days, insiders sold 251,138 shares of company stock worth $35,427,655. 12.99% of the stock is owned by corporate insiders.

Alphabet 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.