Scissortail Wealth Management LLC Boosts Position in Alphabet Inc. (NASDAQ:GOOG)

Scissortail Wealth Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 170.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,790 shares of the information services provider’s stock after acquiring an additional 9,946 shares during the period. Scissortail Wealth Management LLC’s holdings in Alphabet were worth $2,445,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Totem Point Management LLC raised its holdings in Alphabet by 22.0% in the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after buying an additional 571 shares during the period. Somerville Kurt F grew its position in Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after acquiring an additional 11 shares in the last quarter. BCK Partners Inc. acquired a new position in Alphabet in the 1st quarter valued at about $2,564,000. Hall Capital Management Co. Inc. grew its position in Alphabet by 53.2% in the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after acquiring an additional 50 shares in the last quarter. Finally, Fairfield Bush & CO. grew its position in Alphabet by 6.8% in the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after acquiring an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 230 shares of the business’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 value of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $35,433.80. Following the sale, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 251,339 shares of company stock worth $36,377,482. 12.99% of the stock is owned by insiders.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $157.46 on Friday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $103.27 and a twelve month high of $161.70. The stock has a 50 day moving average of $147.35 and a two-hundred day moving average of $141.72. The stock has a market cap of $1.96 trillion, a P/E ratio of 27.15, a P/E/G ratio of 1.45 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share 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 quarter in the previous year, the business earned $1.05 earnings per share. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, research analysts forecast that Alphabet Inc. will post 6.78 earnings per share for the current year.

Analysts Set New Price Targets

GOOG has been the subject of several research reports. Oppenheimer lifted their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Stifel Nicolaus boosted their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday. Morgan Stanley restated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Susquehanna boosted their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Finally, Raymond James boosted their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $159.86.

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.