Nicholas Hoffman & Company LLC. Grows Holdings in Alphabet Inc. (NASDAQ:GOOG)

Nicholas Hoffman & Company LLC. increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,323 shares of the information services provider’s stock after buying an additional 786 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Alphabet were worth $3,146,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GOOG. Tandem Wealth Advisors LLC acquired a new position in shares of Alphabet in the 3rd quarter worth approximately $25,000. Bruce G. Allen Investments LLC bought a new position in Alphabet during the fourth quarter worth $26,000. Equitec Proprietary Markets LLC acquired a new position in Alphabet in the fourth quarter worth $28,000. Buck Wealth Strategies LLC bought a new stake in Alphabet during the third quarter valued at $32,000. Finally, Barometer Capital Management Inc. acquired a new stake in shares of Alphabet during the third quarter worth $32,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GOOG. Raymond James boosted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Stifel Nicolaus upped their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Susquehanna upped their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Finally, Oppenheimer raised their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $159.86.

Alphabet Stock Performance

Shares of GOOG stock opened at $157.95 on Tuesday. Alphabet Inc. has a 12-month low of $103.27 and a 12-month high of $161.70. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The firm has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The business has a 50 day simple moving average of $147.65 and a 200 day simple moving average of $142.12.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping 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 company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. During the same quarter in the prior year, the business posted $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, equities research analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current year.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the sale, the director now owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 251,339 shares of company stock valued at $36,377,482. Company insiders own 12.99% of the company’s stock.

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.