Cetera Trust Company N.A Buys Shares of 10,310 Alphabet Inc. (NASDAQ:GOOG)

Cetera Trust Company N.A purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,310 shares of the information services provider’s stock, valued at approximately $1,453,000.

Several other hedge funds have also made changes to their positions in GOOG. Tandem Wealth Advisors LLC acquired a new stake in shares of Alphabet during the third quarter worth about $25,000. Bruce G. Allen Investments LLC acquired a new stake in Alphabet in the fourth quarter valued at approximately $26,000. Equitec Proprietary Markets LLC acquired a new stake in Alphabet in the fourth quarter valued at approximately $28,000. Buck Wealth Strategies LLC acquired a new stake in Alphabet in the third quarter valued at approximately $32,000. Finally, Barometer Capital Management Inc. acquired a new stake in Alphabet in the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $157.95 on Tuesday. The firm has a market capitalization 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. Alphabet Inc. has a 52 week low of $103.27 and a 52 week high of $161.70. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $147.65 and its two-hundred day moving average is $142.12.

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. Research analysts forecast that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction 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 of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction 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 of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet 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 directly owns 2,332,691 shares in the company, valued at $309,548,095.70. 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.

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.