Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Ridgecrest Wealth Partners LLC

Ridgecrest Wealth Partners LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,797 shares of the information services provider’s stock after buying an additional 800 shares during the quarter. Alphabet comprises 2.5% of Ridgecrest Wealth Partners LLC’s holdings, making the stock its 13th biggest position. Ridgecrest Wealth Partners LLC’s holdings in Alphabet were worth $4,532,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harrell Investment Partners LLC increased its position in Alphabet by 0.9% during the fourth quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock worth $1,078,000 after buying an additional 53 shares during the last quarter. Redhawk Wealth Advisors Inc. raised its stake in shares of Alphabet by 1.1% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after acquiring an additional 54 shares in the last quarter. Investment Advisory Group LLC lifted its holdings in Alphabet by 0.7% in the 4th quarter. Investment Advisory Group LLC now owns 7,684 shares of the information services provider’s stock worth $1,463,000 after purchasing an additional 56 shares during the last quarter. McGlone Suttner Wealth Management Inc. boosted its position in Alphabet by 4.6% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 1,275 shares of the information services provider’s stock worth $243,000 after purchasing an additional 56 shares during the period. Finally, Sunburst Financial Group LLC raised its position in shares of Alphabet by 2.1% in the third quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock valued at $495,000 after purchasing an additional 60 shares during the period. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GOOG shares. Oppenheimer raised their target price on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Barclays raised their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Jefferies Financial Group raised their target price on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.13.

Alphabet Price Performance

Alphabet stock opened at $197.18 on Thursday. The business has a 50 day simple moving average of $188.64 and a 200 day simple moving average of $175.20. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market capitalization of $2.41 trillion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a one year low of $131.55 and a one year high of $203.84.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating 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 company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same period last year, the business earned $1.55 earnings per share. The business’s revenue was up 15.1% on a year-over-year basis. On average, sell-side analysts forecast that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the transaction, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,887 shares of company stock valued at $22,470,464 in the last ninety days. 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.