Spinnaker Trust Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Spinnaker Trust raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 110,841 shares of the information services provider’s stock after purchasing an additional 2,278 shares during the quarter. Alphabet comprises about 1.1% of Spinnaker Trust’s investment portfolio, making the stock its 21st largest position. Spinnaker Trust’s holdings in Alphabet were worth $15,621,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

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

Alphabet Stock Performance

GOOG stock opened at $173.69 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The company has a 50 day moving average price of $149.12 and a 200 day moving average price of $142.77. Alphabet Inc. has a fifty-two week low of $104.42 and a fifty-two week high of $176.42. The stock has a market capitalization of $2.16 trillion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 1.60 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 the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter in the previous year, the company posted $1.17 EPS. Alphabet’s revenue was up 15.4% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 6.8 EPS for the current year.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders sold 253,439 shares of company stock worth $36,746,578 in the last quarter. Insiders own 12.99% of the company’s stock.

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.