Dakota Wealth Management Increases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Dakota Wealth Management increased its position in Alphabet Inc. (NASDAQ:GOOG) by 0.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 153,427 shares of the information services provider’s stock after buying an additional 491 shares during the quarter. Alphabet comprises 0.8% of Dakota Wealth Management’s holdings, making the stock its 23rd largest position. Dakota Wealth Management’s holdings in Alphabet were worth $21,622,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Tandem Wealth Advisors LLC acquired a new stake in Alphabet in the third quarter valued at $25,000. Bruce G. Allen Investments LLC acquired a new stake in Alphabet in the fourth quarter valued at $26,000. HWG Holdings LP acquired a new stake in Alphabet in the second quarter valued at $26,000. Equitec Proprietary Markets LLC acquired a new stake in Alphabet in the fourth quarter valued at $28,000. Finally, Buck Wealth Strategies LLC acquired a new stake in Alphabet in the third quarter valued at $32,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOOG has been the topic of several recent analyst reports. Oppenheimer upped 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. Raymond James upped their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Morgan Stanley reissued an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Susquehanna increased their target price 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, Stifel Nicolaus increased their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday. Six analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet currently has a consensus rating of “Buy” and a consensus target price of $159.86.

Alphabet Stock Down 0.2 %

GOOG stock opened at $156.00 on Wednesday. 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 fifty-two week low of $103.27 and a fifty-two week high of $161.70. The firm’s 50-day simple moving average is $146.95 and its 200 day simple moving average is $141.51. The stock has a market cap of $1.94 trillion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05.

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

Insider Buying and Selling

In related news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider John Kent Walker sold 48,076 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $142.20, for a total value of $6,836,407.20. Following the completion of the transaction, the insider now owns 12,725 shares in the company, valued at approximately $1,809,495. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The shares were 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 owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold a total of 228,839 shares of company stock valued at $32,835,757 in the last quarter. Company insiders own 12.99% of the company’s stock.

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.