River Street Advisors LLC Takes Position in Alphabet Inc. (NASDAQ:GOOG)

River Street Advisors LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, Holdings Channel reports. The firm acquired 1,845 shares of the information services provider’s stock, valued at approximately $260,000.

Several other hedge funds also recently modified their holdings of GOOG. Tandem Wealth Advisors LLC purchased a new position in Alphabet during the 3rd quarter worth $25,000. Bruce G. Allen Investments LLC purchased a new position in Alphabet during the 4th quarter worth $26,000. HWG Holdings LP purchased a new position in Alphabet during the 2nd quarter worth $26,000. Equitec Proprietary Markets LLC purchased a new position in shares of Alphabet in the 4th quarter worth about $28,000. Finally, Buck Wealth Strategies LLC purchased a new position in shares of Alphabet in the 3rd quarter worth about $32,000. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s 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 sale, the chief executive officer now directly owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Ruth Porat sold 48,077 shares of the company’s 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 sale, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold a total of 228,839 shares of company stock valued at $32,835,757 over the last three months. 12.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Alphabet Price Performance

NASDAQ GOOG opened at $156.00 on Wednesday. The company has a market cap of $1.94 trillion, a PE ratio of 26.90, a price-to-earnings-growth 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 simple moving average is $146.95 and its two-hundred day simple moving average is $141.51.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data 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 business 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%. The company’s revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 earnings per share. Research analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current year.

Alphabet Company 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.