Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Graypoint LLC

Graypoint LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 50,158 shares of the information services provider’s stock after purchasing an additional 2,212 shares during the period. Graypoint LLC’s holdings in Alphabet were worth $7,069,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in GOOG. Moneta Group Investment Advisors LLC boosted its stake in shares of Alphabet by 61,587.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after purchasing an additional 129,835,437 shares during the period. FMR LLC boosted its stake in shares of Alphabet by 3.8% in the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after purchasing an additional 4,348,188 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares during the period. Morgan Stanley boosted its stake in shares of Alphabet by 37.6% in the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock valued at $6,368,961,000 after purchasing an additional 19,612,974 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Alphabet by 2.3% in the third quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after purchasing an additional 1,275,060 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 1.8 %

Shares of NASDAQ:GOOG opened at $156.33 on Tuesday. The firm has a 50 day simple moving average of $146.73 and a 200-day simple moving average of $141.34. Alphabet Inc. has a twelve month low of $103.27 and a twelve month high of $161.70. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.94 trillion, a PE ratio of 26.95, a P/E/G ratio of 1.47 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating 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 business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. During the same quarter in the prior year, the business posted $1.05 EPS. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, equities analysts predict that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GOOG shares. Susquehanna raised their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Raymond James lifted their price target on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Oppenheimer lifted their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet has an average rating of “Buy” and an average price target of $157.50.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 251,339 shares of company stock worth $36,033,907. Corporate insiders own 12.99% of the company’s stock.

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.