Wright Investors Service Inc. Has $6.56 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Wright Investors Service Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,515 shares of the information services provider’s stock after selling 1,557 shares during the quarter. Alphabet comprises approximately 1.8% of Wright Investors Service Inc.’s investment portfolio, making the stock its 10th largest position. Wright Investors Service Inc.’s holdings in Alphabet were worth $6,555,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Tandem Wealth Advisors LLC bought a new stake in shares of Alphabet in the 3rd quarter valued at $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of Alphabet in the 4th quarter valued at $26,000. HWG Holdings LP bought a new stake in shares of Alphabet in the 2nd quarter valued at $26,000. Equitec Proprietary Markets LLC bought a new stake in shares of Alphabet in the 4th quarter valued at $28,000. Finally, Buck Wealth Strategies LLC bought a new stake in shares of Alphabet in the 3rd quarter valued at $32,000. Institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The disclosure for this sale can be found here. In the last three months, insiders have sold 251,339 shares of company stock worth $36,377,482. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus boosted their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday. Raymond James lifted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. 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. Finally, 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $159.86.

Alphabet Trading Down 1.1 %

Shares of Alphabet stock opened at $155.72 on Friday. Alphabet Inc. has a 52-week low of $103.27 and a 52-week high of $161.70. The stock’s 50-day simple moving average is $147.46 and its 200 day simple moving average is $141.87. The stock has a market capitalization of $1.94 trillion, a P/E ratio of 26.85, a P/E/G ratio of 1.45 and a beta of 1.05. 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 (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, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. During the same period in the previous year, the business posted $1.05 EPS. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current year.

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.