River Street Advisors LLC Purchases Shares of 1,845 Alphabet Inc. (NASDAQ:GOOG)

River Street Advisors LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,845 shares of the information services provider’s stock, valued at approximately $260,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. Viewpoint Capital Management LLC lifted its position in shares of Alphabet by 10.2% during the fourth quarter. Viewpoint Capital Management LLC now owns 5,759 shares of the information services provider’s stock worth $812,000 after purchasing an additional 535 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of Alphabet during the fourth quarter worth approximately $369,000. Equitec Proprietary Markets LLC acquired a new position in shares of Alphabet during the fourth quarter worth approximately $28,000. Aire Advisors LLC lifted its position in shares of Alphabet by 25.7% during the fourth quarter. Aire Advisors LLC now owns 14,937 shares of the information services provider’s stock worth $2,105,000 after purchasing an additional 3,058 shares in the last quarter. Finally, Granite Bay Wealth Management LLC lifted its position in shares of Alphabet by 36.3% during the fourth quarter. Granite Bay Wealth Management LLC now owns 1,301,920 shares of the information services provider’s stock worth $176,647,000 after purchasing an additional 346,471 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GOOG. Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Susquehanna boosted their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. 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 research note on Wednesday, January 24th. 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 research note on Tuesday. 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 research note on Monday, April 8th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet has an average rating of “Buy” and an average target price of $159.86.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $2,326,922.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 228,839 shares of company stock valued at $32,835,757. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Down 0.2 %

Shares of NASDAQ:GOOG opened at $156.00 on Wednesday. Alphabet Inc. has a 52 week low of $103.27 and a 52 week 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 capitalization of $1.94 trillion, a PE ratio of 26.90, a PEG ratio of 1.44 and a beta of 1.05. The company has a 50 day moving average price of $146.95 and a two-hundred day moving average price of $141.51.

Alphabet (NASDAQ:GOOG) last issued its earnings results 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. 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 the consensus estimate of $85.28 billion. During the same quarter in the prior year, the firm earned $1.05 earnings per share. The business’s quarterly revenue was up 13.5% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 6.78 earnings per share 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.