Raab & Moskowitz Asset Management LLC Raises Stake in Alphabet Inc. (NASDAQ:GOOG)

Raab & Moskowitz Asset Management LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,180 shares of the information services provider’s stock after buying an additional 159 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in Alphabet were worth $871,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Veracity Capital LLC lifted its holdings in Alphabet by 12.4% during the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after purchasing an additional 1,173 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in Alphabet by 25.3% during the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after purchasing an additional 1,230 shares during the last quarter. Washington Trust Bank lifted its holdings in Alphabet by 33.0% during the third quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock valued at $970,000 after purchasing an additional 1,826 shares during the last quarter. CNB Bank lifted its holdings in Alphabet by 6.6% during the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock valued at $3,655,000 after purchasing an additional 1,710 shares during the last quarter. Finally, Sloy Dahl & Holst LLC lifted its holdings in Alphabet by 1.9% during the third quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock valued at $1,086,000 after purchasing an additional 155 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 2,100 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the transaction, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Insiders sold 253,439 shares of company stock valued at $36,746,578 over the last quarter. 12.99% of the stock is owned by company insiders.

Alphabet Stock Performance

NASDAQ:GOOG opened at $173.69 on Friday. 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. Alphabet Inc. has a fifty-two week low of $104.42 and a fifty-two week 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 business has a 50 day moving average price of $149.12 and a 200-day moving average price of $142.77.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 6.8 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GOOG shares. Oppenheimer upped their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus upped their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Raymond James upped their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Finally, Susquehanna upped 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. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $165.67.

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.