Wealth Alliance Has $2.68 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Wealth Alliance lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,039 shares of the information services provider’s stock after selling 767 shares during the period. Wealth Alliance’s holdings in Alphabet were worth $2,683,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Totem Point Management LLC boosted its holdings in shares of Alphabet by 22.0% during the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after buying an additional 571 shares during the period. Somerville Kurt F lifted its position in Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after acquiring an additional 11 shares during the last quarter. BCK Partners Inc. bought a new stake in Alphabet during the first quarter valued at about $2,564,000. Hall Capital Management Co. Inc. grew its position in shares of Alphabet by 53.2% in the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after purchasing an additional 50 shares during the last quarter. Finally, Fairfield Bush & CO. increased its stake in shares of Alphabet by 6.8% in the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after purchasing an additional 214 shares during the period. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 800 shares of the stock in a transaction 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 directly owns 7,991 shares in the company, valued at $1,275,043.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John L. Hennessy sold 800 shares of the firm’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 sale, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 in the last 90 days. 12.99% of the stock is owned by company insiders.

Alphabet Trading Up 0.4 %

Shares of GOOG stock opened at $157.46 on Friday. The firm has a fifty day moving average of $147.35 and a 200-day moving average of $141.72. The stock has a market cap of $1.96 trillion, a price-to-earnings ratio of 27.15, a P/E/G 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 posted 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 firm had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. During the same quarter in the prior year, the business posted $1.05 earnings per share. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, equities research analysts forecast that Alphabet Inc. will post 6.78 earnings per share for the current fiscal 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.