GAMMA Investing LLC Buys Shares of 31,302 Alphabet Inc. (NASDAQ:GOOG)

GAMMA Investing LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 31,302 shares of the information services provider’s stock, valued at approximately $4,439,000. Alphabet accounts for about 1.2% of GAMMA Investing LLC’s portfolio, making the stock its 11th biggest holding.

A number of other hedge funds have also recently made changes to their positions in GOOG. Caliber Wealth Management LLC grew its position in shares of Alphabet by 2.6% during the 3rd quarter. Caliber Wealth Management LLC now owns 22,036 shares of the information services provider’s stock valued at $2,905,000 after purchasing an additional 551 shares in the last quarter. Legacy Capital Wealth Partners LLC purchased a new position in shares of Alphabet during the 3rd quarter valued at $508,000. Investment Advisory Group LLC grew its position in shares of Alphabet by 1.1% during the 3rd quarter. Investment Advisory Group LLC now owns 7,578 shares of the information services provider’s stock valued at $999,000 after purchasing an additional 82 shares in the last quarter. Palumbo Wealth Management LLC grew its position in shares of Alphabet by 47.7% during the 3rd quarter. Palumbo Wealth Management LLC now owns 8,107 shares of the information services provider’s stock valued at $1,069,000 after purchasing an additional 2,617 shares in the last quarter. Finally, Rothschild Investment LLC IL grew its position in shares of Alphabet by 0.8% during the 3rd quarter. Rothschild Investment LLC IL now owns 126,512 shares of the information services provider’s stock valued at $16,681,000 after purchasing an additional 1,065 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 251,339 shares of company stock worth $36,377,482. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Raymond James increased their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Finally, Oppenheimer increased 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. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $159.86.

Alphabet Stock Up 0.7 %

Shares of NASDAQ:GOOG opened at $161.10 on Thursday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock’s 50-day moving average price is $148.20 and its 200-day moving average price is $142.40. The stock has a market capitalization 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. Alphabet Inc. has a 12-month low of $103.27 and a 12-month high of $161.70.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share 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 net margin of 24.01% and a return on equity of 27.22%. Alphabet’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.05 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 6.79 earnings per share for the current year.

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.