Weatherly Asset Management L. P. Has $3.80 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Weatherly Asset Management L. P. lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,981 shares of the information services provider’s stock after selling 840 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Alphabet were worth $3,802,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Tandem Wealth Advisors LLC bought a new stake in shares of Alphabet during the third quarter worth $25,000. Bruce G. Allen Investments LLC bought a new stake in Alphabet in the fourth quarter valued at 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 bought a new stake in shares of Alphabet in the third quarter worth about $32,000. Finally, Barometer Capital Management Inc. bought a new stake in shares of Alphabet in the third quarter worth about $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent analyst reports. Raymond James increased 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. Susquehanna increased their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Oppenheimer increased their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Stifel Nicolaus upped their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $159.86.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $161.10 on Thursday. The stock has a 50 day moving average price of $148.20 and a 200 day moving average price of $142.40. Alphabet Inc. has a 52 week low of $103.27 and a 52 week high of $161.70. 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 stock has a market capitalization of $2.00 trillion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. During the same period in the prior year, the firm posted $1.05 earnings per share. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. Analysts predict that Alphabet Inc. will post 6.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, 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 value of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. 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 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. Also, CFO Ruth Porat sold 48,077 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following 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 worth $36,377,482 over the last 90 days. Company insiders own 12.99% of the company’s stock.

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.