Diversified LLC Acquires 534 Shares of Alphabet Inc. (NASDAQ:GOOG)

Diversified LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 12.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,867 shares of the information services provider’s stock after purchasing an additional 534 shares during the period. Diversified LLC’s holdings in Alphabet were worth $686,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Bruce G. Allen Investments LLC bought a new position in shares of Alphabet in the 4th quarter worth approximately $26,000. Tandem Wealth Advisors LLC purchased a new stake in Alphabet during the third quarter valued at approximately $25,000. Equitec Proprietary Markets LLC bought a new position in Alphabet in the fourth quarter worth approximately $28,000. Buck Wealth Strategies LLC purchased a new position in shares of Alphabet during the 3rd quarter worth $32,000. Finally, Barometer Capital Management Inc. bought a new stake in shares of Alphabet during the 3rd quarter valued at $32,000. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of research analyst reports. Susquehanna increased their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Raymond James raised their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Oppenheimer raised their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $159.86.

Alphabet Stock Performance

Alphabet stock opened at $159.92 on Wednesday. The company’s 50-day moving average price is $147.92 and its 200-day moving average price is $142.27. The company has a quick ratio of 2.10, a current 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 company has a market cap of $1.99 trillion, a PE ratio of 27.57, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. During the same period in the previous year, the firm earned $1.05 earnings per share. Alphabet’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, equities research analysts forecast that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the sale, the chief executive officer now directly owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 over the last 90 days. Company insiders own 12.99% of the company’s stock.

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.