Alphabet Inc. (NASDAQ:GOOG) is Corbyn Investment Management Inc. MD’s 5th Largest Position

Corbyn Investment Management Inc. MD lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.9% in the 4th quarter, Holdings Channel reports. The firm owned 57,146 shares of the information services provider’s stock after selling 1,097 shares during the period. Alphabet comprises about 3.8% of Corbyn Investment Management Inc. MD’s portfolio, making the stock its 5th largest holding. Corbyn Investment Management Inc. MD’s holdings in Alphabet were worth $8,054,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Veracity Capital LLC lifted its stake in Alphabet by 12.4% in the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after buying an additional 1,173 shares during the last quarter. Independence Bank of Kentucky grew its stake in Alphabet by 25.3% in the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after acquiring an additional 1,230 shares during the last quarter. Washington Trust Bank increased its stake in shares of Alphabet by 33.0% during the 3rd quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock worth $970,000 after purchasing an additional 1,826 shares in the last quarter. CNB Bank raised its holdings in shares of Alphabet by 6.6% in the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after acquiring an additional 1,710 shares during the last quarter. Finally, Sloy Dahl & Holst LLC lifted its holdings in Alphabet by 1.9% in the 3rd quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock valued at $1,086,000 after purchasing an additional 155 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Raymond James upped their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus lifted their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Susquehanna upped their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Finally, Oppenheimer lifted their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $159.86.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 800 shares of the stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the transaction, the director now owns 7,991 shares in the company, valued at approximately $1,275,043.96. The sale was disclosed in a filing with the SEC, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock worth $36,377,482 in the last ninety days. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Up 9.9 %

GOOG traded up $15.68 on Friday, reaching $173.63. 39,014,663 shares of the company traded hands, compared to its average volume of 22,413,301. 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 52-week low of $104.42 and a 52-week high of $176.42. The stock’s 50 day moving average price is $148.48 and its 200-day moving average price is $142.51. The company has a market cap of $2.16 trillion, a price-to-earnings ratio of 29.81, a PEG ratio of 1.48 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its earnings results 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. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same quarter in the previous year, the business earned $1.17 EPS. The business’s revenue was up 15.4% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc. will post 6.79 EPS for the current fiscal year.

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.