Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 157,495 shares of the information services provider’s stock after buying an additional 2,592 shares during the period. Alphabet accounts for about 0.8% of Citizens Financial Group Inc. RI’s holdings, making the stock its 28th biggest holding. Citizens Financial Group Inc. RI’s holdings in Alphabet were worth $22,196,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GOOG. Tandem Wealth Advisors LLC acquired a new stake in shares of Alphabet in the third quarter valued at about $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at about $26,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at about $28,000. Buck Wealth Strategies LLC purchased a new stake in shares of Alphabet in the third quarter valued at about $32,000. Finally, Barometer Capital Management Inc. purchased a new stake in shares of Alphabet in the third quarter valued at about $32,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on GOOG. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus upped their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Oppenheimer increased their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Susquehanna increased their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Finally, Raymond James increased their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and an average target price of $165.67.

Alphabet Stock Up 10.0 %

Shares of GOOG opened at $173.69 on Friday. The stock has a market capitalization of $2.16 trillion, a PE ratio of 26.64, a P/E/G ratio of 1.60 and a beta of 1.05. Alphabet Inc. has a 1 year low of $104.42 and a 1 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. The company’s 50-day simple moving average is $149.12 and its 200-day simple moving average is $142.77.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 earnings per share. Analysts forecast that Alphabet Inc. will post 6.8 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were 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 disclosure for this sale can be found here. Insiders have sold a total of 253,439 shares of company stock valued at $36,746,578 over the last 90 days. 12.99% of the stock is owned by corporate insiders.

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.