Acas LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Acas LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 11.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,277 shares of the information services provider’s stock after purchasing an additional 235 shares during the period. Acas LLC’s holdings in Alphabet were worth $321,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in GOOG. Panview Asian Equity Master Fund purchased a new position in Alphabet in the 4th quarter worth approximately $20,012,000. Fountainhead AM LLC grew its position in shares of Alphabet by 5.6% during the 4th quarter. Fountainhead AM LLC now owns 3,204 shares of the information services provider’s stock worth $452,000 after buying an additional 169 shares in the last quarter. Cutter & CO Brokerage Inc. lifted its stake in shares of Alphabet by 0.3% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 106,649 shares of the information services provider’s stock worth $15,030,000 after purchasing an additional 269 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Alphabet in the fourth quarter valued at about $4,439,000. Finally, Ellenbecker Investment Group raised its stake in Alphabet by 4.6% in the fourth quarter. Ellenbecker Investment Group now owns 3,670 shares of the information services provider’s stock valued at $517,000 after buying an additional 161 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 in the last three months. 12.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on GOOG shares. Stifel Nicolaus raised their price objective on 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 target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer boosted their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Susquehanna upped their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $159.86.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $176.28 on Friday. The company has a market cap of $2.19 trillion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 1.48 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average price is $148.48 and its two-hundred day moving average price is $142.51. Alphabet Inc. has a twelve month low of $104.42 and a twelve month high of $176.28.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.17 earnings per share. On average, analysts predict that Alphabet Inc. will post 6.79 EPS for the current 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.