Berbice Capital Management LLC Takes $2.73 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Berbice Capital Management LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 14,340 shares of the information services provider’s stock, valued at approximately $2,731,000. Alphabet accounts for about 2.2% of Berbice Capital Management LLC’s holdings, making the stock its 14th biggest holding.

Other hedge funds have also modified their holdings of the company. Weiss Asset Management LP purchased a new position in Alphabet in the 3rd quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet in the 3rd quarter valued at approximately $33,000. HWG Holdings LP purchased a new position in Alphabet in the 2nd quarter valued at approximately $40,000. Sanctuary Wealth Management L.L.C. increased its stake in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares in the last quarter. Finally, Iron Horse Wealth Management LLC increased its position in Alphabet by 32.3% during the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after buying an additional 84 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of Alphabet stock opened at $201.90 on Monday. The business’s fifty day moving average price is $187.95 and its 200 day moving average price is $175.21. The stock has a market capitalization of $2.47 trillion, a P/E ratio of 26.78, a PEG ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $203.84. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last announced its 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 return on equity of 31.66% and a net margin of 27.74%. 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 company earned $1.55 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on GOOG shares. Oppenheimer raised their price target on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Barclays raised their price target on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group raised their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.13.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 133,387 shares of company stock valued at $24,368,654. 12.99% of the stock is currently owned by insiders.

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.