SlateStone Wealth LLC Purchases 1,033 Shares of Alphabet Inc. (NASDAQ:GOOG)

SlateStone Wealth LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,603 shares of the information services provider’s stock after buying an additional 1,033 shares during the period. Alphabet makes up about 1.3% of SlateStone Wealth LLC’s holdings, making the stock its 17th biggest holding. SlateStone Wealth LLC’s holdings in Alphabet were worth $9,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the 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 directly owns 1,777,106 shares in the company, valued at $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 in the last three months. 12.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GOOG shares. Stifel Nicolaus upped their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Oppenheimer upped their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. 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 report on Wednesday, January 24th. Susquehanna upped their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Finally, Morgan Stanley restated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet currently has an average rating of “Buy” and an average price target of $159.86.

Alphabet Stock Up 0.7 %

NASDAQ:GOOG opened at $161.10 on Thursday. The firm’s 50-day moving average price is $148.20 and its 200-day moving average price is $142.40. The company has a market capitalization of $2.00 trillion, a PE ratio of 27.78, a P/E/G ratio of 1.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet Inc. has a 1-year low of $103.27 and a 1-year high of $161.70.

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