Private Client Services LLC Purchases New Position in Alphabet Inc. (NASDAQ:GOOG)

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

Several other institutional investors and hedge funds also recently made changes to their positions in GOOG. Moneta Group Investment Advisors LLC increased its position in shares of 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 valued at $11,539,004,000 after acquiring an additional 129,835,437 shares in the last quarter. Bank of New York Mellon Corp grew its position in Alphabet by 1,807.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock worth $5,487,226,000 after purchasing an additional 54,077,519 shares during the period. Norges Bank bought a new stake in Alphabet in the 4th quarter worth approximately $3,059,614,000. Morgan Stanley grew its position in Alphabet by 37.6% in the 4th quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after purchasing an additional 19,612,974 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Alphabet by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after purchasing an additional 9,703,425 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 251,339 shares of company stock worth $36,377,482. Insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.6 %

GOOG 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 cap of $1.95 trillion, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The firm’s fifty day moving average is $147.15 and its 200 day moving average is $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 announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. Alphabet’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Oppenheimer lifted their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Raymond James lifted their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Susquehanna lifted their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Finally, Stifel Nicolaus lifted their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $159.86.

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.