Tyche Wealth Partners LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

Tyche Wealth Partners LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, Holdings Channel reports. The firm acquired 9,648 shares of the information services provider’s stock, valued at approximately $1,360,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tandem Wealth Advisors LLC bought a new stake in shares of Alphabet in the 3rd quarter valued at approximately $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $26,000. HWG Holdings LP bought a new stake in shares of Alphabet in the 2nd quarter valued at approximately $26,000. Equitec Proprietary Markets LLC bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $28,000. Finally, Buck Wealth Strategies LLC bought a new stake in shares of Alphabet in the 3rd quarter valued at approximately $32,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was 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 in the company, valued at $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. In the last quarter, insiders sold 251,339 shares of company stock worth $36,377,482. 12.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Alphabet Trading Up 0.4 %

Shares of GOOG stock opened at $157.46 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet Inc. has a 1 year low of $103.27 and a 1 year high of $161.70. The stock has a fifty day moving average of $147.35 and a two-hundred day moving average of $141.72. The firm has a market capitalization 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 (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $85.28 billion. During the same quarter in the previous year, the firm posted $1.05 EPS. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 6.78 EPS for the current year.

Alphabet Company 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.