Alphabet Inc. (NASDAQ:GOOG) Position Lifted by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,649 shares of the information services provider’s stock after buying an additional 269 shares during the quarter. Alphabet makes up approximately 4.2% of Cutter & CO Brokerage Inc.’s portfolio, making the stock its 4th largest holding. Cutter & CO Brokerage Inc.’s holdings in Alphabet were worth $15,030,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Tandem Wealth Advisors LLC acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $28,000. Buck Wealth Strategies LLC acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $32,000. Finally, Barometer Capital Management Inc. acquired a new stake in Alphabet in the 3rd quarter valued at approximately $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Alphabet stock opened at $161.10 on Thursday. The stock has a market cap of $2.00 trillion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05. The company has a fifty day simple moving average of $148.20 and a 200-day simple moving average of $142.40. Alphabet Inc. has a 12-month low of $103.27 and a 12-month high of $161.70. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping 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 business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. During the same period in the previous year, the company earned $1.05 EPS. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities analysts expect that Alphabet Inc. will post 6.79 EPS for the current fiscal year.

Insider Activity

In other news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The disclosure for this sale can be found here. Over the last three months, insiders sold 251,339 shares of company stock valued at $36,377,482. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GOOG. Stifel Nicolaus lifted their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Raymond James boosted 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. Oppenheimer boosted their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Morgan Stanley restated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Finally, Susquehanna boosted their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and a consensus price target of $159.86.

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.