PDS Planning Inc Raises Stock Position in Alphabet Inc. (NASDAQ:GOOG)

PDS Planning Inc grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.0% in the fourth quarter, Holdings Channel reports. The firm owned 28,084 shares of the information services provider’s stock after purchasing an additional 830 shares during the period. PDS Planning Inc’s holdings in Alphabet were worth $3,958,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GOOG. 1900 Wealth Management LLC lifted its holdings in shares of Alphabet by 1.3% during the 4th quarter. 1900 Wealth Management LLC now owns 12,348 shares of the information services provider’s stock worth $1,740,000 after acquiring an additional 160 shares during the last quarter. Garrison Asset Management LLC raised its holdings in shares of Alphabet by 5.4% during the 4th quarter. Garrison Asset Management LLC now owns 20,042 shares of the information services provider’s stock valued at $2,825,000 after buying an additional 1,030 shares in the last quarter. RWA Wealth Partners LLC lifted its position in Alphabet by 68.1% in the 4th quarter. RWA Wealth Partners LLC now owns 161,173 shares of the information services provider’s stock worth $22,714,000 after buying an additional 65,288 shares during the last quarter. Sage Mountain Advisors LLC boosted its stake in Alphabet by 18.8% in the fourth quarter. Sage Mountain Advisors LLC now owns 31,116 shares of the information services provider’s stock worth $4,385,000 after buying an additional 4,929 shares in the last quarter. Finally, Elite Life Management LLC bought a new position in Alphabet during the fourth quarter valued at approximately $550,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 0.7 %

NASDAQ GOOG opened at $161.10 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet Inc. has a fifty-two week low of $103.27 and a fifty-two week high of $161.70. The stock has a market cap of $2.00 trillion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05. The stock has a 50 day simple moving average of $148.20 and a two-hundred day simple moving average of $142.40.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 earnings per share. On average, analysts forecast that Alphabet Inc. will post 6.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent research reports. Susquehanna boosted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Morgan Stanley restated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer boosted their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Raymond James boosted their price objective on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Finally, Stifel Nicolaus lifted their target price 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. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $159.86.

Insider Activity

In related news, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 251,339 shares of company stock valued at $36,377,482. Corporate insiders own 12.99% of the company’s stock.

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.