Main Street Research LLC Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Main Street Research LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 18.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,010 shares of the information services provider’s stock after acquiring an additional 2,323 shares during the period. Main Street Research LLC’s holdings in Alphabet were worth $2,115,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Advisors Network Inc. boosted its position in shares of Alphabet by 4.5% during the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after acquiring an additional 7 shares during the last quarter. Turim 21 Investimentos Ltda. raised its stake in Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after purchasing an additional 8 shares in the last quarter. West Michigan Advisors LLC lifted its position in Alphabet by 3.7% during the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after purchasing an additional 9 shares during the last quarter. Somerville Kurt F lifted its position in Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after purchasing an additional 11 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC grew its stake in Alphabet by 1.4% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after buying an additional 16 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were 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 of the company’s stock, valued at $347,832,416.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the transaction, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 in the last three months. 12.99% of the stock is owned by insiders.

Alphabet Trading Up 0.4 %

NASDAQ GOOG opened at $157.46 on Friday. The firm has a market cap of $1.96 trillion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. Alphabet Inc. has a 1-year low of $103.27 and a 1-year high of $161.70. The stock has a 50-day moving average of $147.35 and a 200-day moving average of $141.72. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. 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 previous year, the company posted $1.05 earnings per share. The business’s revenue was up 13.5% on a year-over-year basis. As a group, sell-side analysts forecast that Alphabet Inc. will post 6.78 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.