Alphabet Inc. (NASDAQ:GOOG) is Overbrook Management Corp’s 2nd Largest Position

Overbrook Management Corp reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 275,276 shares of the information services provider’s stock after selling 1,919 shares during the quarter. Alphabet accounts for 7.8% of Overbrook Management Corp’s holdings, making the stock its 2nd largest position. Overbrook Management Corp’s holdings in Alphabet were worth $38,795,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of GOOG. Evolution Advisers Inc. increased its position in shares of Alphabet by 200.0% in the fourth quarter. Evolution Advisers Inc. now owns 600 shares of the information services provider’s stock valued at $84,000 after buying an additional 400 shares in the last quarter. VCI Wealth Management LLC acquired a new position in Alphabet during the fourth quarter worth $363,000. Stevens Capital Management LP lifted its stake in shares of Alphabet by 4,516.1% in the 4th quarter. Stevens Capital Management LP now owns 93,568 shares of the information services provider’s stock valued at $13,187,000 after purchasing an additional 91,541 shares during the last quarter. Syon Capital LLC lifted its stake in shares of Alphabet by 872.7% in the 4th quarter. Syon Capital LLC now owns 325,089 shares of the information services provider’s stock valued at $45,815,000 after purchasing an additional 291,667 shares during the last quarter. Finally, Meritage Portfolio Management raised its holdings in shares of Alphabet by 4.5% in the 4th quarter. Meritage Portfolio Management now owns 6,575 shares of the information services provider’s stock valued at $927,000 after buying an additional 286 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on 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 transaction, 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 SEC, which is accessible through this link. In related news, CFO Ruth Porat sold 48,077 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The disclosure for this sale can be found here. In the last three months, insiders sold 253,439 shares of company stock valued at $36,746,578. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Susquehanna boosted their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Raymond James boosted their price objective on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Morgan Stanley restated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus upped their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Oppenheimer upped their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet presently has a consensus rating of “Buy” and an average price target of $165.67.

Alphabet Stock Up 10.0 %

Shares of NASDAQ GOOG opened at $173.69 on Friday. Alphabet Inc. has a 52-week low of $104.42 and a 52-week high of $176.42. The business has a 50-day moving average price of $149.12 and a 200 day moving average price of $142.75. 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 stock has a market cap of $2.16 trillion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data 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. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period last year, the firm earned $1.17 EPS. Equities research analysts forecast that Alphabet Inc. will post 6.79 earnings per share 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.