Stockman Wealth Management Inc. Purchases 290 Shares of Alphabet Inc. (NASDAQ:GOOG)

Stockman Wealth Management Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.8% during the fourth quarter, HoldingsChannel reports. The fund owned 7,935 shares of the information services provider’s stock after acquiring an additional 290 shares during the quarter. Stockman Wealth Management Inc.’s holdings in Alphabet were worth $1,118,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC bought a new position in shares of Alphabet in the fourth quarter worth about $26,000. Tandem Wealth Advisors LLC bought a new position in shares of Alphabet in the third quarter worth about $25,000. Equitec Proprietary Markets LLC bought a new position in shares of Alphabet in the fourth quarter worth about $28,000. Buck Wealth Strategies LLC purchased a new stake in Alphabet in the third quarter worth about $32,000. Finally, Barometer Capital Management Inc. purchased a new stake in Alphabet in the third quarter worth about $32,000. 27.26% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders have sold a total of 251,339 shares of company stock worth $36,377,482 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

GOOG stock opened at $161.10 on Thursday. The firm has a market cap of $2.00 trillion, a price-to-earnings ratio of 27.78, a PEG ratio of 1.47 and a beta of 1.05. The firm has a 50-day simple moving average of $148.20 and a two-hundred day simple moving average of $142.40. Alphabet Inc. has a one year low of $103.27 and a one year high of $161.70. 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 (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 6.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GOOG. Stifel Nicolaus upped their price objective 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. Oppenheimer upped their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Raymond James upped their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna upped their price objective 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. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $159.86.

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.