Roble Belko & Company Inc Grows Position in Alphabet Inc. (NASDAQ:GOOG)

Roble Belko & Company Inc lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 44.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,845 shares of the information services provider’s stock after buying an additional 1,180 shares during the quarter. Roble Belko & Company Inc’s holdings in Alphabet were worth $542,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Cranbrook Wealth Management LLC lifted its position in shares of Alphabet by 14.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock valued at $80,000 after acquiring an additional 70 shares in the last quarter. Columbia Trust Co 01012016 lifted its position in shares of Alphabet by 3.7% in the third quarter. Columbia Trust Co 01012016 now owns 2,087 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 74 shares in the last quarter. Manchester Financial Inc. lifted its position in shares of Alphabet by 3.6% in the fourth quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock valued at $299,000 after acquiring an additional 74 shares in the last quarter. Atticus Wealth Management LLC lifted its position in shares of Alphabet by 1.4% in the third quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock valued at $694,000 after acquiring an additional 75 shares in the last quarter. Finally, Congress Park Capital LLC lifted its position in shares of Alphabet by 0.3% in the fourth quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock valued at $3,177,000 after acquiring an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $161.10 on Thursday. The firm has a market capitalization of $2.00 trillion, a PE ratio of 27.78, a P/E/G ratio of 1.47 and a beta of 1.05. 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 business has a 50-day moving average of $148.20 and a two-hundred day moving average of $142.40. Alphabet Inc. has a 12 month low of $103.27 and a 12 month high of $161.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 6.79 earnings per share for the current year.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 230 shares of the firm’s 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 sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Frances Arnold sold 230 shares of the firm’s 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 sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 251,339 shares of company stock worth $36,377,482. 12.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on GOOG. Susquehanna upped their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. 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. Oppenheimer increased their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Raymond James increased their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet presently has a consensus rating of “Buy” and a consensus target price of $159.86.

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.