Ellenbecker Investment Group Raises Position in Alphabet Inc. (NASDAQ:GOOG)

Ellenbecker Investment Group increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,670 shares of the information services provider’s stock after acquiring an additional 161 shares during the quarter. Ellenbecker Investment Group’s holdings in Alphabet were worth $517,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Element Wealth LLC raised its position in Alphabet by 4.2% in the 4th quarter. Element Wealth LLC now owns 3,128 shares of the information services provider’s stock worth $441,000 after purchasing an additional 127 shares during the period. Masso Torrence Wealth Management Inc. raised its position in Alphabet by 2.6% in the 4th quarter. Masso Torrence Wealth Management Inc. now owns 23,311 shares of the information services provider’s stock worth $3,285,000 after purchasing an additional 593 shares during the period. Lorne Steinberg Wealth Management Inc. raised its position in Alphabet by 3.5% in the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 4,144 shares of the information services provider’s stock worth $584,000 after purchasing an additional 142 shares during the period. Parkside Financial Bank & Trust raised its position in Alphabet by 16.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 21,438 shares of the information services provider’s stock worth $3,021,000 after purchasing an additional 3,023 shares during the period. Finally, SlateStone Wealth LLC increased its position in shares of Alphabet by 1.5% in the fourth quarter. SlateStone Wealth LLC now owns 69,603 shares of the information services provider’s stock valued at $9,809,000 after acquiring an additional 1,033 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of analyst reports. Raymond James boosted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Susquehanna boosted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Stifel Nicolaus boosted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer boosted their price objective 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, Morgan Stanley restated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet presently has an average rating of “Buy” and an average price target of $159.86.

Insider Buying and Selling

In related news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock valued at $36,377,482 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $161.10 on Thursday. Alphabet Inc. has a 1 year low of $103.27 and a 1 year high of $161.70. 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 company’s 50-day moving average is $148.20 and its 200 day moving average is $142.40. The stock has a market capitalization of $2.00 trillion, a P/E ratio of 27.78, a P/E/G ratio of 1.47 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, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. During the same quarter in the previous year, the company earned $1.05 earnings per share. Alphabet’s quarterly revenue was up 13.5% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc. will post 6.79 earnings per share for the current year.

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.