Root Financial Partners LLC Invests $253,000 in Alphabet Inc. (NASDAQ:GOOG)

Root Financial Partners LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,794 shares of the information services provider’s stock, valued at approximately $253,000.

Other institutional investors have also recently made changes to their positions in the company. Financial Advisors Network Inc. boosted its stake in Alphabet by 4.5% during the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after buying an additional 7 shares during the last quarter. Turim 21 Investimentos Ltda. boosted its stake in Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after buying an additional 8 shares during the last quarter. West Michigan Advisors LLC boosted its stake in Alphabet by 3.7% during the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock worth $704,000 after buying an additional 9 shares during the last quarter. Somerville Kurt F boosted its stake in Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after buying an additional 11 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC boosted its stake in Alphabet by 1.4% during the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after buying an additional 16 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent research reports. Susquehanna boosted their price objective 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 lifted their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley restated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Finally, Oppenheimer lifted their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $159.86.

Insider Activity at Alphabet

In related news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 228,839 shares of company stock worth $32,835,757. 12.99% of the stock is currently owned by company insiders.

Alphabet Price Performance

GOOG stock opened at $156.00 on Wednesday. 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 company has a market capitalization of $1.94 trillion, a PE ratio of 26.90, a P/E/G ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a 12-month low of $103.27 and a 12-month high of $161.70. The business’s fifty day moving average price is $146.95 and its 200 day moving average price is $141.51.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current year.

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.