Bfsg LLC Grows Holdings in Alphabet Inc. (NASDAQ:GOOG)

Bfsg LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,399 shares of the information services provider’s stock after purchasing an additional 468 shares during the period. Bfsg LLC’s holdings in Alphabet were worth $5,975,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Everence Capital Management Inc. grew its position in Alphabet by 0.7% in the third quarter. Everence Capital Management Inc. now owns 124,950 shares of the information services provider’s stock valued at $16,475,000 after acquiring an additional 830 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. boosted its stake in shares of Alphabet by 15.0% during the 3rd quarter. Arkfeld Wealth Strategies L.L.C. now owns 19,808 shares of the information services provider’s stock valued at $2,757,000 after buying an additional 2,580 shares during the last quarter. Essex LLC boosted its stake in shares of Alphabet by 6.3% during the 3rd quarter. Essex LLC now owns 29,660 shares of the information services provider’s stock valued at $3,911,000 after buying an additional 1,768 shares during the last quarter. Capital Investment Advisors LLC boosted its stake in shares of Alphabet by 14.1% during the 3rd quarter. Capital Investment Advisors LLC now owns 28,953 shares of the information services provider’s stock valued at $3,817,000 after buying an additional 3,573 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC boosted its stake in shares of Alphabet by 1.1% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 22,332 shares of the information services provider’s stock valued at $2,944,000 after buying an additional 234 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GOOG. Oppenheimer increased their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reissued an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Susquehanna raised their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Stifel Nicolaus raised their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Raymond James raised their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $159.86.

Alphabet Stock Up 11.6 %

Shares of Alphabet stock opened at $176.28 on Friday. The firm has a market cap of $2.19 trillion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 1.48 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet Inc. has a 52-week low of $104.42 and a 52-week high of $176.28. The stock has a 50-day simple moving average of $148.48 and a 200-day simple moving average of $142.51.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same quarter last year, the firm earned $1.17 EPS. Alphabet’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, equities research analysts expect that Alphabet Inc. will post 6.79 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, April 17th. The stock was 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The disclosure for this sale can be found here. Insiders 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 owned by insiders.

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.