Tyche Wealth Partners LLC Buys Shares of 9,648 Alphabet Inc. (NASDAQ:GOOG)

Tyche Wealth Partners LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,648 shares of the information services provider’s stock, valued at approximately $1,360,000.

A number of other large investors also recently bought and sold shares of the stock. Financial Strategies Group Inc. lifted its position in Alphabet by 16.9% in the fourth quarter. Financial Strategies Group Inc. now owns 35,720 shares of the information services provider’s stock valued at $5,371,000 after buying an additional 5,159 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Alphabet by 7.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,096,558 shares of the information services provider’s stock worth $295,468,000 after purchasing an additional 151,421 shares in the last quarter. Everence Capital Management Inc. lifted its position in shares of Alphabet by 2.0% during the fourth quarter. Everence Capital Management Inc. now owns 127,440 shares of the information services provider’s stock worth $17,960,000 after purchasing an additional 2,490 shares in the last quarter. Desjardins Global Asset Management Inc. lifted its position in shares of Alphabet by 47.9% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 50,333 shares of the information services provider’s stock worth $7,094,000 after purchasing an additional 16,295 shares in the last quarter. Finally, Main Street Research LLC lifted its position in shares of Alphabet by 18.3% during the fourth quarter. Main Street Research LLC now owns 15,010 shares of the information services provider’s stock worth $2,115,000 after purchasing an additional 2,323 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several research reports. Raymond James increased their price target 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. Stifel Nicolaus increased their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley reissued an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Susquehanna upped their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Finally, Oppenheimer upped their target price 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. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $159.86.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 230 shares of the 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 transaction, the director now directly 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 is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was 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 directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frances Arnold sold 230 shares of the 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 sale, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock worth $36,377,482 over the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.4 %

GOOG stock opened at $157.46 on Friday. The company’s 50 day moving average price is $147.35 and its 200 day moving average price is $141.72. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet Inc. has a fifty-two week low of $103.27 and a fifty-two week high of $161.70. The firm has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.45 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

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.