Alphabet Inc. (NASDAQ:GOOG) is EFG Asset Management Americas Corp.’s 3rd Largest Position

EFG Asset Management Americas Corp. raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 9.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 116,905 shares of the information services provider’s stock after acquiring an additional 10,359 shares during the period. Alphabet makes up approximately 3.6% of EFG Asset Management Americas Corp.’s portfolio, making the stock its 3rd biggest position. EFG Asset Management Americas Corp.’s holdings in Alphabet were worth $16,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Tandem Wealth Advisors LLC purchased a new stake in shares of Alphabet during the 3rd quarter worth about $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $26,000. Equitec Proprietary Markets LLC acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $28,000. Buck Wealth Strategies LLC acquired a new position in shares of Alphabet in the 3rd quarter valued at approximately $32,000. Finally, Barometer Capital Management Inc. acquired a new position in shares of Alphabet in the 3rd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 1.4 %

Shares of Alphabet stock opened at $157.95 on Tuesday. The stock has a 50-day moving average price of $147.65 and a 200 day moving average price of $142.12. The company has a market cap of $1.96 trillion, a P/E ratio of 27.23, a P/E/G ratio of 1.44 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1 year low of $103.27 and a 1 year high of $161.70.

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

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’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 value of $2,985,750.00. Following the completion of the sale, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Insiders have sold a total of 251,339 shares of company stock valued at $36,377,482 in the last three months. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GOOG. Stifel Nicolaus upped their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Raymond James increased their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna increased their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Oppenheimer upped their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Finally, Morgan Stanley restated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $159.86.

Alphabet 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.