Coerente Capital Management Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Coerente Capital Management lifted its position in Alphabet Inc. (NASDAQ:GOOGFree Report) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,495 shares of the information services provider’s stock after purchasing an additional 240 shares during the quarter. Alphabet comprises about 0.2% of Coerente Capital Management’s holdings, making the stock its 27th biggest holding. Coerente Capital Management’s holdings in Alphabet were worth $915,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GOOG. Moneta Group Investment Advisors LLC boosted its stake in Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after buying an additional 129,835,437 shares during the period. Bank of New York Mellon Corp increased its stake in Alphabet by 1,807.4% in the third quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock valued at $5,487,226,000 after purchasing an additional 54,077,519 shares during the last quarter. Norges Bank purchased a new position in shares of Alphabet during the fourth quarter worth approximately $3,059,614,000. Morgan Stanley grew its position in shares of Alphabet by 37.6% during the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after acquiring an additional 19,612,974 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Alphabet by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after acquiring an additional 9,703,425 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 2.8 %

GOOG opened at $156.50 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The stock has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The business has a 50-day moving average of $144.98 and a two-hundred day moving average of $139.62. Alphabet Inc. has a 12 month low of $102.38 and a 12 month high of $157.00.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its 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 return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. During the same quarter in the previous year, the business earned $1.05 EPS. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 6.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GOOG. 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 research report on Wednesday, January 24th. Susquehanna lifted their price objective 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. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $146.33.

Read Our Latest Research Report on Alphabet

Insider Buying and Selling

In related news, insider John Kent Walker sold 12,084 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the transaction, the insider now directly owns 48,717 shares of the company’s stock, valued at approximately $7,365,523.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 12,084 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total value of $1,826,979.96. Following the sale, the insider now directly owns 48,717 shares in the company, valued at $7,365,523.23. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 246,799 shares of company stock valued at $34,971,139. Corporate insiders own 12.99% of the company’s stock.

Alphabet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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