Convergence Investment Partners LLC Purchases 267 Shares of Alphabet Inc. (NASDAQ:GOOG)

Convergence Investment Partners LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,878 shares of the information services provider’s stock after purchasing an additional 267 shares during the quarter. Alphabet comprises about 1.4% of Convergence Investment Partners LLC’s portfolio, making the stock its 17th biggest holding. Convergence Investment Partners LLC’s holdings in Alphabet were worth $2,660,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GOOG. Tandem Wealth Advisors LLC bought a new stake in shares of Alphabet in the third quarter valued at approximately $25,000. Bruce G. Allen Investments LLC acquired a new position in Alphabet in the 4th quarter valued at $26,000. Equitec Proprietary Markets LLC bought a new stake in shares of Alphabet during the 4th quarter valued at $28,000. Buck Wealth Strategies LLC acquired a new stake in shares of Alphabet during the 3rd quarter worth $32,000. Finally, Barometer Capital Management Inc. bought a new position in shares of Alphabet in the third quarter worth $32,000. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. 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

Shares of Alphabet stock opened at $173.69 on Monday. The company’s 50 day moving average price is $149.12 and its two-hundred day moving average price is $142.78. The firm has a market capitalization of $2.16 trillion, a P/E ratio of 26.64, a P/E/G ratio of 1.59 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. Alphabet Inc. has a fifty-two week low of $104.42 and a fifty-two week high of $176.42.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. Alphabet’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 EPS. On average, equities analysts forecast that Alphabet Inc. will post 6.8 earnings per share for the current fiscal year.

About Alphabet

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.