Veracity Capital LLC Increases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Veracity Capital LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 12.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,597 shares of the information services provider’s stock after purchasing an additional 1,173 shares during the period. Alphabet accounts for about 0.6% of Veracity Capital LLC’s investment portfolio, making the stock its 23rd biggest holding. Veracity Capital LLC’s holdings in Alphabet were worth $1,493,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tolleson Wealth Management Inc. purchased a new stake in shares of Alphabet in the 2nd quarter worth about $411,000. Westshore Wealth LLC increased its stake in shares of Alphabet by 31.2% in the 2nd quarter. Westshore Wealth LLC now owns 15,700 shares of the information services provider’s stock worth $1,887,000 after acquiring an additional 3,730 shares in the last quarter. Washington Trust Bank increased its stake in shares of Alphabet by 33.0% in the 3rd quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock worth $970,000 after acquiring an additional 1,826 shares in the last quarter. Woodley Farra Manion Portfolio Management Inc. increased its stake in shares of Alphabet by 20.0% in the 2nd quarter. Woodley Farra Manion Portfolio Management Inc. now owns 5,986 shares of the information services provider’s stock worth $724,000 after acquiring an additional 996 shares in the last quarter. Finally, CNB Bank increased its stake in shares of Alphabet by 6.6% in the 3rd quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after acquiring an additional 1,710 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOG stock opened at $155.87 on Wednesday. The company has a 50 day moving average price of $145.15 and a 200-day moving average price of $139.74. Alphabet Inc. has a 52 week low of $102.38 and a 52 week high of $157.00. The firm has a market capitalization of $1.94 trillion, a PE ratio of 26.87, a P/E/G ratio of 1.41 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. During the same period in the previous year, the business posted $1.05 earnings per share. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. As a group, equities research analysts expect that Alphabet Inc. will post 6.77 earnings per share for the current year.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders sold 228,239 shares of company stock worth $32,432,382 over the last three months. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GOOG. Raymond James raised their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna raised their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average price target of $146.33.

Read Our Latest Analysis on GOOG

About Alphabet

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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