Fulton Breakefield Broenniman LLC Has $1.74 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Fulton Breakefield Broenniman LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 12,360 shares of the information services provider’s stock after selling 90 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Alphabet were worth $1,742,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after purchasing an additional 9,703,425 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Alphabet during the 4th quarter worth about $11,600,970,000. FMR LLC increased its holdings in shares of Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after acquiring an additional 4,348,188 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Alphabet by 198.7% in the 4th quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock valued at $547,215,000 after acquiring an additional 2,583,128 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Alphabet by 93.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock worth $647,064,000 after purchasing an additional 2,222,950 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on GOOG shares. Oppenheimer increased their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Susquehanna raised their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. 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. 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. Finally, Raymond James boosted their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and an average price target of $165.67.

Alphabet Stock Performance

NASDAQ GOOG opened at $173.69 on Friday. The company’s fifty day moving average is $149.12 and its two-hundred day moving average is $142.77. Alphabet Inc. has a 52-week low of $104.42 and a 52-week high of $176.42. 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 firm has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 26.64, a P/E/G ratio of 1.60 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 30.01% 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 period last year, the business earned $1.17 earnings per share. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post 6.8 EPS for the current year.

Insider Activity

In related news, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction 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 $243,854,485.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Ruth Porat sold 48,077 shares of the company’s 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 sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the transaction, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 253,439 shares of company stock worth $36,746,578. Company insiders own 12.99% of the company’s stock.

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.