FLC Capital Advisors Increases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

FLC Capital Advisors lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.8% during the fourth quarter, Holdings Channel reports. The firm owned 23,383 shares of the information services provider’s stock after acquiring an additional 405 shares during the quarter. Alphabet makes up about 0.9% of FLC Capital Advisors’ portfolio, making the stock its 28th largest holding. FLC Capital Advisors’ holdings in Alphabet were worth $3,295,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Totem Point Management LLC boosted its stake in shares of Alphabet by 22.0% during the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after buying an additional 571 shares during the period. Somerville Kurt F raised its stake in Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after acquiring an additional 11 shares during the last quarter. BCK Partners Inc. acquired a new stake in Alphabet during the 1st quarter worth approximately $2,564,000. Hall Capital Management Co. Inc. lifted its position in Alphabet by 53.2% during the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after acquiring an additional 50 shares during the period. Finally, Fairfield Bush & CO. grew its stake in shares of Alphabet by 6.8% in the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after purchasing an additional 214 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The sale was disclosed in a filing with the SEC, which is available at this link. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 230 shares of the firm’s 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 completion of the transaction, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 251,138 shares of company stock valued at $35,427,655. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of several analyst reports. Raymond James upped 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 upped their price objective 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. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $146.33.

Alphabet Stock Up 0.2 %

Alphabet stock opened at $152.26 on Friday. The stock’s 50 day moving average price is $144.75 and its 200 day moving average price is $139.39. Alphabet Inc. has a 1-year low of $100.29 and a 1-year high of $155.20. The company has a market cap of $1.89 trillion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.40 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping 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 business’s revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 6.77 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.