Riverstone Advisors LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

Riverstone Advisors LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,660 shares of the information services provider’s stock, valued at approximately $234,000.

A number of other large investors also recently bought and sold shares of the business. Tandem Wealth Advisors LLC bought a new stake in Alphabet in the third quarter worth $25,000. Bruce G. Allen Investments LLC purchased a new position in shares of Alphabet in the 4th quarter worth about $26,000. HWG Holdings LP bought a new position in Alphabet in the 2nd quarter worth about $26,000. Equitec Proprietary Markets LLC purchased a new stake in Alphabet during the 4th quarter valued at about $28,000. Finally, Buck Wealth Strategies LLC purchased a new stake in Alphabet during the 3rd quarter valued at about $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GOOG shares. Susquehanna lifted their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Oppenheimer boosted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. 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. Morgan Stanley reissued an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Finally, Raymond James upped 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.com, the company currently has a consensus rating of “Buy” and a consensus target price of $159.86.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock worth $36,377,482 in the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG opened at $157.46 on Friday. The stock has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.45 and a beta of 1.05. Alphabet Inc. has a 1-year low of $103.27 and a 1-year high of $161.70. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The business’s fifty day moving average price is $147.35 and its 200-day moving average price is $141.72.

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, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. Alphabet’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current year.

Alphabet 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.