Alphabet Inc. (NASDAQ:GOOG) Stock Position Lifted by Ropes Wealth Advisors LLC

Ropes Wealth Advisors LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,041 shares of the information services provider’s stock after purchasing an additional 9 shares during the period. Alphabet accounts for 1.0% of Ropes Wealth Advisors LLC’s portfolio, making the stock its 22nd largest position. Ropes Wealth Advisors LLC’s holdings in Alphabet were worth $5,906,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hoese & Co LLP raised its stake in Alphabet by 400.0% during the 4th quarter. Hoese & Co LLP now owns 10 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 8 shares in the last quarter. Maryland Capital Advisors Inc. acquired a new position in shares of Alphabet during the 4th quarter valued at $29,000. Paragon Capital Management Ltd acquired a new position in shares of Alphabet during the 4th quarter valued at $35,000. Schubert & Co acquired a new position in shares of Alphabet during the 4th quarter valued at $43,000. Finally, Steward Financial Group LLC acquired a new position in shares of Alphabet during the 4th quarter valued at $66,000. 31.20% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently issued reports on GOOG. Monness Crespi & Hardt lifted their price target on Alphabet from $3,660.00 to $3,850.00 and gave the company a “buy” rating in a research report on Wednesday, February 2nd. Bank of America lifted their price target on Alphabet from $3,210.00 to $3,470.00 in a research report on Wednesday, January 19th. Zacks Investment Research cut Alphabet from a “buy” rating to a “hold” rating in a research report on Tuesday, January 25th. Wedbush reiterated an “outperform” rating on shares of Alphabet in a research report on Wednesday, April 20th. Finally, Jefferies Financial Group lifted their target price on Alphabet from $3,500.00 to $3,600.00 and gave the stock a “buy” rating in a report on Wednesday, February 2nd. One research analyst has rated the stock with a hold rating and thirty have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $3,308.77.

In related news, major shareholder 2021 Gp L.L.C. Gv bought 255,647 shares of the company’s stock in a transaction dated Tuesday, May 10th. The stock was acquired at an average cost of $34.65 per share, with a total value of $8,858,168.55. Following the acquisition, the insider now owns 479,695 shares in the company, valued at approximately $16,621,431.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the stock in a transaction that occurred on Monday, April 11th. The stock was sold at an average price of $11.16, for a total value of $6,073,818.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 573,715 shares of company stock valued at $84,154,881. Insiders own 12.99% of the company’s stock.

NASDAQ:GOOG traded up $67.09 during mid-day trading on Friday, hitting $2,330.31. 1,486,079 shares of the company’s stock traded hands, compared to its average volume of 1,605,600. The firm has a 50 day moving average of $2,579.69 and a two-hundred day moving average of $2,740.59. Alphabet Inc. has a 12 month low of $2,202.27 and a 12 month high of $3,042.00. The firm has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 1.06 and a beta of 1.13. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.06.

Shares of Alphabet are scheduled to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly created shares will be distributed to shareholders after the market closes on Friday, July 15th.

Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings results on Tuesday, April 26th. The information services provider reported $24.62 EPS for the quarter, missing the consensus estimate of $25.51 by ($0.89). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same period last year, the firm posted $26.29 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 112.62 earnings per share for the current year.

Alphabet Company Profile (Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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