Root Financial Partners LLC Takes $253,000 Position in Alphabet Inc. (NASDAQ:GOOG)

Root Financial Partners LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 1,794 shares of the information services provider’s stock, valued at approximately $253,000.

A number of other large investors have also recently made changes to their positions in GOOG. Tandem Wealth Advisors LLC bought a new stake in Alphabet during the 3rd quarter valued at approximately $25,000. Bruce G. Allen Investments LLC bought a new stake in Alphabet during the 4th quarter valued at approximately $26,000. HWG Holdings LP bought a new stake in Alphabet during the 2nd quarter valued at approximately $26,000. Equitec Proprietary Markets LLC bought a new stake in Alphabet during the 4th quarter valued at approximately $28,000. Finally, Buck Wealth Strategies LLC bought a new stake in Alphabet during the 3rd quarter valued at approximately $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on GOOG shares. Oppenheimer lifted 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. Stifel Nicolaus upped their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Raymond James upped their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Finally, Susquehanna upped their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $159.86.

Alphabet Stock Down 0.2 %

Shares of GOOG opened at $156.00 on Wednesday. The business’s 50 day simple moving average is $146.95 and its 200-day simple moving average is $141.51. Alphabet Inc. has a 1 year low of $103.27 and a 1 year high of $161.70. The stock has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 1.44 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 (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $85.28 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. Alphabet’s quarterly revenue was up 13.5% compared to the same quarter last year. As a group, equities analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the sale, the chief executive officer now owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the company’s 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 transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. 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 the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the transaction, the chief executive officer now directly owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 228,839 shares of company stock worth $32,835,757. Company insiders own 12.99% of the company’s stock.

About Alphabet

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.