Verde Servicos Internacionais S.A. Makes New $12.53 Million Investment in Alphabet Inc. (NASDAQ:GOOG)

Verde Servicos Internacionais S.A. acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 88,921 shares of the information services provider’s stock, valued at approximately $12,532,000. Alphabet comprises approximately 5.0% of Verde Servicos Internacionais S.A.’s investment portfolio, making the stock its 9th biggest holding.

Several other hedge funds have also recently modified their holdings of GOOG. Tandem Wealth Advisors LLC purchased a new stake in Alphabet in the third quarter valued at approximately $25,000. Bruce G. Allen Investments LLC purchased a new stake in Alphabet in the fourth quarter valued at approximately $26,000. Equitec Proprietary Markets LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $28,000. Buck Wealth Strategies LLC purchased a new stake in Alphabet in the 3rd quarter worth approximately $32,000. Finally, Barometer Capital Management Inc. purchased a new stake in Alphabet in the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

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

Alphabet Stock Up 1.4 %

NASDAQ GOOG opened at $157.95 on Tuesday. The business has a fifty day moving average price of $147.65 and a 200 day moving average price of $142.12. Alphabet Inc. has a one year low of $103.27 and a one year high of $161.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. 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.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $85.28 billion. During the same period last year, the company earned $1.05 EPS. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. Research analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, 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 can be accessed through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the transaction, the chief executive officer now directly owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 230 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock valued at $36,377,482 in the last three months. 12.99% of the stock is currently owned by insiders.

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.