Private Client Services LLC Invests $1.69 Million in Alphabet Inc. (NASDAQ:GOOG)

Private Client Services LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,968 shares of the information services provider’s stock, valued at approximately $1,687,000. Alphabet comprises 1.4% of Private Client Services LLC’s investment portfolio, making the stock its 19th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy CG LLC increased its position in Alphabet by 28.5% during the fourth quarter. Legacy CG LLC now owns 42,624 shares of the information services provider’s stock worth $6,007,000 after purchasing an additional 9,460 shares during the last quarter. Aurora Private Wealth Inc. increased its position in shares of Alphabet by 4.3% during the fourth quarter. Aurora Private Wealth Inc. now owns 7,596 shares of the information services provider’s stock valued at $1,071,000 after acquiring an additional 310 shares during the last quarter. Bourgeon Capital Management LLC increased its position in shares of Alphabet by 9.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 7,268 shares of the information services provider’s stock valued at $1,024,000 after acquiring an additional 600 shares during the last quarter. Investors Research Corp increased its position in shares of Alphabet by 30.9% during the fourth quarter. Investors Research Corp now owns 835 shares of the information services provider’s stock valued at $118,000 after acquiring an additional 197 shares during the last quarter. Finally, Hoxton Planning & Management LLC increased its position in shares of Alphabet by 13.6% during the fourth quarter. Hoxton Planning & Management LLC now owns 3,544 shares of the information services provider’s stock valued at $499,000 after acquiring an additional 425 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GOOG. Oppenheimer lifted their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Stifel Nicolaus lifted their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday. Susquehanna lifted their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Finally, Raymond James lifted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Six equities 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 target price of $159.86.

Alphabet Trading Up 0.6 %

Shares of GOOG stock opened at $156.88 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a market capitalization of $1.95 trillion, a P/E ratio of 27.05, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The company has a 50 day moving average price of $147.15 and a 200 day moving average price of $141.61. Alphabet Inc. has a fifty-two week low of $103.27 and a fifty-two week high of $161.70.

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 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 company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. Equities research analysts predict that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction that occurred 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 owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 over the last 90 days. 12.99% of the stock is owned by insiders.

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.