Alphabet Inc. (NASDAQ:GOOG) Stock Position Increased by EFG Asset Management Americas Corp.

EFG Asset Management Americas Corp. boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 9.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 116,905 shares of the information services provider’s stock after purchasing an additional 10,359 shares during the quarter. Alphabet comprises approximately 3.6% of EFG Asset Management Americas Corp.’s holdings, making the stock its 3rd largest holding. EFG Asset Management Americas Corp.’s holdings in Alphabet were worth $16,475,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Bruce G. Allen Investments LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at about $26,000. Tandem Wealth Advisors LLC bought a new position in Alphabet during the 3rd quarter valued at about $25,000. Equitec Proprietary Markets LLC bought a new position in Alphabet during the 4th quarter valued at about $28,000. Buck Wealth Strategies LLC bought a new position in Alphabet during the 3rd quarter valued at about $32,000. Finally, Barometer Capital Management Inc. bought a new position in Alphabet during the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 1.4 %

GOOG stock opened at $157.95 on Tuesday. The firm has a market cap of $1.96 trillion, a PE ratio of 27.23, a P/E/G ratio of 1.44 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. The firm’s fifty day moving average is $147.65 and its 200 day moving average is $142.12. Alphabet Inc. has a one year low of $103.27 and a one year high of $161.70.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (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 business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. During the same quarter last year, the business earned $1.05 earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, research analysts forecast that Alphabet Inc. will post 6.78 EPS for the current year.

Insider Transactions at Alphabet

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Susquehanna increased 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. Stifel Nicolaus increased their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer raised 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. Finally, Raymond James raised their price target on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet presently has an average rating of “Buy” and an average target price of $159.86.

About Alphabet

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.