Palumbo Wealth Management LLC Has $1.21 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Palumbo Wealth Management LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 5.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,588 shares of the information services provider’s stock after purchasing an additional 481 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Alphabet were worth $1,210,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of GOOG. Hutchens & Kramer Investment Management Group LLC boosted its stake in Alphabet by 3.0% in the 4th quarter. Hutchens & Kramer Investment Management Group LLC now owns 4,578 shares of the information services provider’s stock valued at $645,000 after buying an additional 135 shares in the last quarter. Coerente Capital Management boosted its stake in Alphabet by 3.8% in the 4th quarter. Coerente Capital Management now owns 6,495 shares of the information services provider’s stock valued at $915,000 after buying an additional 240 shares in the last quarter. True North Advisors LLC boosted its stake in Alphabet by 1.9% in the 4th quarter. True North Advisors LLC now owns 55,938 shares of the information services provider’s stock valued at $7,883,000 after buying an additional 1,065 shares in the last quarter. Chicago Capital LLC boosted its stake in Alphabet by 57.0% in the 4th quarter. Chicago Capital LLC now owns 52,768 shares of the information services provider’s stock valued at $7,437,000 after buying an additional 19,150 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc boosted its stake in Alphabet by 3.2% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 4,756 shares of the information services provider’s stock valued at $670,000 after buying an additional 149 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 228,239 shares of company stock worth $32,432,382. 12.99% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on GOOG shares. Raymond James boosted their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna boosted their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $146.33.

View Our Latest Report on GOOG

Alphabet Trading Down 0.4 %

GOOG stock opened at $155.87 on Wednesday. The company has a market cap of $1.94 trillion, a P/E ratio of 26.87, a PEG ratio of 1.41 and a beta of 1.05. Alphabet Inc. has a twelve month low of $102.38 and a twelve month high of $157.00. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average of $145.15 and a 200-day moving average of $139.74.

Alphabet (NASDAQ:GOOGGet Free Report) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion during 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%. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.05 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 6.77 EPS for the current year.

Alphabet Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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