Verus Wealth Management LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,335 shares of the information services provider's stock, valued at approximately $254,000.
Other institutional investors have also modified their holdings of the company. M&G PLC purchased a new stake in shares of Alphabet during the 3rd quarter worth $2,240,000. Coldstream Capital Management Inc. lifted its position in shares of Alphabet by 14.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider's stock worth $19,642,000 after purchasing an additional 14,738 shares during the last quarter. Metis Global Partners LLC lifted its position in shares of Alphabet by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider's stock worth $50,488,000 after purchasing an additional 4,292 shares during the last quarter. Requisite Capital Management LLC purchased a new stake in shares of Alphabet during the 4th quarter worth $927,000. Finally, Stevens Capital Management LP lifted its position in shares of Alphabet by 172.9% during the 3rd quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider's stock worth $15,254,000 after purchasing an additional 57,810 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.
Shares of Alphabet stock opened at $205.60 on Friday. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $207.08. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company's 50-day simple moving average is $189.70 and its 200-day simple moving average is $175.54. The firm has a market cap of $2.52 trillion, a price-to-earnings ratio of 27.27, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same period in the previous year, the business posted $1.55 earnings per share. The business's revenue was up 15.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current year.
In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the transaction, the chief executive officer now directly owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. This represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frances Arnold sold 441 shares of the company's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 121,630 shares of company stock worth $22,258,133 over the last ninety days. 12.99% of the stock is currently owned by company insiders.
A number of equities research analysts recently weighed in on the stock. Scotiabank boosted their price target on shares of Alphabet from $212.00 to $240.00 and gave the company a "sector outperform" rating in a research report on Friday, January 24th. Pivotal Research boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. UBS Group boosted their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Oppenheimer boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, Seaport Res Ptn raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $209.13.
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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.
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