Goldstream Capital Management Ltd Acquires 27,948 Shares of Alphabet Inc. (NASDAQ:GOOG)

Goldstream Capital Management Ltd boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 43.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,451 shares of the information services provider’s stock after buying an additional 27,948 shares during the period. Alphabet makes up 8.7% of Goldstream Capital Management Ltd’s holdings, making the stock its 6th largest position. Goldstream Capital Management Ltd’s holdings in Alphabet were worth $13,029,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Cranbrook Wealth Management LLC grew its stake in shares of Alphabet by 14.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock valued at $80,000 after buying an additional 70 shares in the last quarter. Manchester Financial Inc. grew its holdings in Alphabet by 3.6% during the 4th quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock worth $299,000 after acquiring an additional 74 shares in the last quarter. Atticus Wealth Management LLC increased its position in shares of Alphabet by 1.4% in the 3rd quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock valued at $694,000 after purchasing an additional 75 shares during the last quarter. Congress Park Capital LLC raised its holdings in shares of Alphabet by 0.3% in the 4th quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock valued at $3,177,000 after purchasing an additional 76 shares in the last quarter. Finally, Emerald Advisors LLC grew its stake in shares of Alphabet by 0.6% during the fourth quarter. Emerald Advisors LLC now owns 13,565 shares of the information services provider’s stock worth $1,912,000 after purchasing an additional 76 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOOG has been the topic of several research analyst reports. Oppenheimer raised 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. Susquehanna lifted their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. 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. Finally, Stifel Nicolaus lifted their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $165.67.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, 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 transaction of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the transaction, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 275,129 shares of company stock worth $40,382,765. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Alphabet stock traded up $0.53 during mid-day trading on Friday, reaching $168.99. 22,767,056 shares of the company were exchanged, compared to its average volume of 22,353,938. Alphabet Inc. has a twelve month low of $104.70 and a twelve month high of $176.42. The firm’s 50-day simple moving average is $150.99 and its two-hundred day simple moving average is $143.49. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15. The firm has a market cap of $2.10 trillion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter last year, the business posted $1.17 EPS. The business’s revenue was up 15.4% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th.

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.