Ritholtz Wealth Management Has $14.01 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Ritholtz Wealth Management lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.7% during the fourth quarter, HoldingsChannel reports. The fund owned 99,402 shares of the information services provider’s stock after selling 682 shares during the quarter. Alphabet accounts for about 0.5% of Ritholtz Wealth Management’s investment portfolio, making the stock its 27th biggest holding. Ritholtz Wealth Management’s holdings in Alphabet were worth $14,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOG. Moneta Group Investment Advisors LLC increased its stake in Alphabet by 61,587.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after buying an additional 129,835,437 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Alphabet by 1,807.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock valued at $5,487,226,000 after buying an additional 54,077,519 shares during the last quarter. Norges Bank purchased a new stake in Alphabet in the 4th quarter valued at about $3,059,614,000. Morgan Stanley increased its stake in Alphabet by 37.6% in the 4th quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock valued at $6,368,961,000 after buying an additional 19,612,974 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Alphabet by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after buying an additional 9,703,425 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 425 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 27,259 shares of the company’s stock, valued at approximately $3,805,628.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Alphabet news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value 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 SEC, which can be accessed through the SEC website. 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 transaction of $59,334.25. Following the completion of the transaction, the chief accounting officer now directly owns 27,259 shares of the company’s stock, valued at $3,805,628.99. The disclosure for this sale can be found here. Insiders sold a total of 251,138 shares of company stock worth $35,427,655 in the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.2 %

Shares of GOOG stock opened at $152.26 on Friday. The company has a 50 day moving average of $144.75 and a 200-day moving average of $139.39. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $100.29 and a 12-month high of $155.20. The firm has a market cap of $1.89 trillion, a P/E ratio of 26.25, a PEG ratio of 1.40 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. During the same quarter last year, the business posted $1.05 EPS. Alphabet’s quarterly revenue was up 13.5% compared to the same quarter last year. Sell-side analysts anticipate that Alphabet Inc. will post 6.77 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Susquehanna increased their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Raymond James raised their price target on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. 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 price target of $146.33.

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.