Addison Advisors LLC Purchases 107 Shares of Alphabet Inc. (NASDAQ:GOOG)

Addison Advisors LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,174 shares of the information services provider’s stock after purchasing an additional 107 shares during the quarter. Addison Advisors LLC’s holdings in Alphabet were worth $729,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Bruce G. Allen Investments LLC bought a new position in shares of Alphabet during the fourth quarter valued at approximately $26,000. Tandem Wealth Advisors LLC purchased a new stake in shares of Alphabet in the 3rd quarter worth approximately $25,000. Equitec Proprietary Markets LLC bought a new position in Alphabet during the 4th quarter valued at approximately $28,000. Buck Wealth Strategies LLC purchased a new position in Alphabet during the third quarter valued at $32,000. Finally, Barometer Capital Management Inc. bought a new stake in Alphabet in the third quarter worth $32,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of GOOG stock traded up $15.74 during trading hours on Friday, reaching $173.69. The company had a trading volume of 56,500,787 shares, compared to its average volume of 18,324,858. The firm has a market cap of $2.16 trillion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 1.60 and a beta of 1.05. The business has a fifty day moving average price of $149.12 and a 200-day moving average price of $142.77. Alphabet Inc. has a one year low of $104.42 and a one year high of $176.42. 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 (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 EPS. Sell-side analysts predict that Alphabet Inc. will post 6.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GOOG has been the subject of several analyst reports. Raymond James raised their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Susquehanna increased their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Oppenheimer raised their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $165.67.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The shares were 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 of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 253,439 shares of company stock valued at $36,746,578. Company insiders own 12.99% of the company’s stock.

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.