Altfest L J & Co. Inc. Acquires 3,879 Shares of Alphabet Inc. (NASDAQ:GOOG)

Altfest L J & Co. Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 41,894 shares of the information services provider’s stock after purchasing an additional 3,879 shares during the period. Alphabet accounts for about 0.9% of Altfest L J & Co. Inc.’s portfolio, making the stock its 28th largest position. Altfest L J & Co. Inc.’s holdings in Alphabet were worth $5,904,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. West Wealth Group LLC lifted its stake in shares of Alphabet by 7.4% during the fourth quarter. West Wealth Group LLC now owns 1,940 shares of the information services provider’s stock valued at $273,000 after acquiring an additional 134 shares during the period. Procyon Advisors LLC lifted its stake in shares of Alphabet by 4.6% during the fourth quarter. Procyon Advisors LLC now owns 68,450 shares of the information services provider’s stock valued at $9,647,000 after acquiring an additional 3,018 shares during the period. Parisi Gray Wealth Management lifted its stake in shares of Alphabet by 2.0% during the fourth quarter. Parisi Gray Wealth Management now owns 16,284 shares of the information services provider’s stock valued at $2,295,000 after acquiring an additional 320 shares during the period. First National Corp MA ADV lifted its stake in shares of Alphabet by 1.1% during the fourth quarter. First National Corp MA ADV now owns 10,210 shares of the information services provider’s stock valued at $1,439,000 after acquiring an additional 114 shares during the period. Finally, Planned Solutions Inc. acquired a new position in shares of Alphabet during the fourth quarter valued at $602,000. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In related news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $140.11, for a total value of $3,152,475.00. Following the completion of the transaction, the chief executive officer now directly owns 2,422,691 shares of the company’s stock, valued at approximately $339,443,236.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction on Friday, March 8th. The shares were 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 $243,854,485.32. The disclosure for this sale can be found here. Insiders sold a total of 251,378 shares of company stock valued at $35,461,377 over the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.1 %

NASDAQ:GOOG traded up $0.13 during mid-day trading on Thursday, hitting $152.07. The company had a trading volume of 7,434,348 shares, compared to its average volume of 22,903,941. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The business’s fifty day moving average is $144.57 and its two-hundred day moving average is $139.30. The firm has a market cap of $1.89 trillion, a P/E ratio of 26.16, a P/E/G ratio of 1.40 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $100.29 and a fifty-two week high of $155.20.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. During the same period last year, the firm posted $1.05 earnings per share. The business’s revenue was up 13.5% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 6.77 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on GOOG shares. Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Raymond James increased their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and an average price target of $146.33.

About Alphabet

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.