MCF Advisors LLC Buys 1,193 Shares of Alphabet Inc. (NASDAQ:GOOG)

MCF Advisors LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 22.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,409 shares of the information services provider’s stock after acquiring an additional 1,193 shares during the quarter. MCF Advisors LLC’s holdings in Alphabet were worth $903,000 at the end of the most recent quarter.

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

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction on Tuesday, January 30th. The shares were 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 directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction 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 transaction, 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 sold 251,339 shares of company stock worth $36,377,482. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Raymond James raised their price target 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. Susquehanna boosted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Finally, Oppenheimer raised their target price 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. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $159.86.

Alphabet Trading Up 1.2 %

Shares of Alphabet stock opened at $159.92 on Wednesday. Alphabet Inc. has a 12-month low of $103.27 and a 12-month high of $161.70. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $147.92 and its 200-day moving average is $142.27. The stock has a market cap of $1.99 trillion, a P/E ratio of 27.57, a P/E/G ratio of 1.46 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 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. During the same quarter last year, the company posted $1.05 earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current fiscal 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.