Berbice Capital Management LLC Takes Position in Alphabet Inc. (NASDAQ:GOOG)

Berbice Capital Management LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 14,340 shares of the information services provider’s stock, valued at approximately $2,731,000. Alphabet comprises approximately 2.2% of Berbice Capital Management LLC’s investment portfolio, making the stock its 14th largest position.

Several other large investors have also modified their holdings of the business. Impact Partnership Wealth LLC raised its holdings in shares of Alphabet by 13.3% in the 4th quarter. Impact Partnership Wealth LLC now owns 2,065 shares of the information services provider’s stock valued at $393,000 after buying an additional 242 shares during the period. Patriot Investment Management Group Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at $202,000. Southland Equity Partners LLC raised its holdings in shares of Alphabet by 10.9% in the 4th quarter. Southland Equity Partners LLC now owns 11,309 shares of the information services provider’s stock valued at $2,154,000 after buying an additional 1,109 shares during the period. LexAurum Advisors LLC raised its holdings in shares of Alphabet by 2.3% in the 4th quarter. LexAurum Advisors LLC now owns 11,107 shares of the information services provider’s stock valued at $2,115,000 after buying an additional 245 shares during the period. Finally, Private Capital Advisors Inc. raised its holdings in shares of Alphabet by 1.3% in the 4th quarter. Private Capital Advisors Inc. now owns 30,133 shares of the information services provider’s stock valued at $5,739,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 1.2 %

Shares of NASDAQ GOOG opened at $201.90 on Monday. The stock has a market cap of $2.47 trillion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $203.84. The business has a 50-day moving average price of $187.95 and a 200 day moving average price of $175.21.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same period last year, the firm earned $1.55 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GOOG shares. Pivotal Research upped their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. UBS Group upped their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group upped their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.13.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,387 shares of company stock valued at $24,368,654. 12.99% of the stock is owned by company insiders.

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.