Scissortail Wealth Management LLC Has $2.45 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Scissortail Wealth Management LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 170.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,790 shares of the information services provider's stock after purchasing an additional 9,946 shares during the quarter. Scissortail Wealth Management LLC's holdings in Alphabet were worth $2,445,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of GOOG. Safeguard Financial LLC acquired a new position in Alphabet in the 4th quarter worth approximately $245,000. First Interstate Bank grew its holdings in shares of Alphabet by 2.9% during the fourth quarter. First Interstate Bank now owns 8,833 shares of the information services provider's stock valued at $1,245,000 after buying an additional 247 shares in the last quarter. Tyche Wealth Partners LLC acquired a new position in Alphabet during the fourth quarter valued at $1,360,000. Financial Strategies Group Inc. lifted its stake in Alphabet by 16.9% in the 4th quarter. Financial Strategies Group Inc. now owns 35,720 shares of the information services provider's stock worth $5,371,000 after acquiring an additional 5,159 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Alphabet by 7.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,096,558 shares of the information services provider's stock worth $295,468,000 after acquiring an additional 151,421 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Stock Down 1.1 %

Alphabet stock traded down $1.74 during mid-day trading on Friday, hitting $155.72. 21,460,195 shares of the company's stock were exchanged, compared to its average volume of 22,201,402. Alphabet Inc. has a 1-year low of $103.27 and a 1-year high of $161.70. The stock has a 50 day moving average of $147.35 and a two-hundred day moving average of $141.72. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.94 trillion, a P/E ratio of 27.02, a P/E/G ratio of 1.45 and a beta of 1.05.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate 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%. The company's revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.05 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus upped their target price on Alphabet from $154.00 to $174.00 and gave the company a "buy" rating in a report on Tuesday. Raymond James increased their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 24th. Susquehanna boosted their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a "positive" rating in a report on Wednesday, January 31st. Oppenheimer lifted their price objective on Alphabet from $172.00 to $185.00 and gave the company an "outperform" rating in a research report on Monday, April 8th. Finally, Morgan Stanley restated an "overweight" rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet has a consensus rating of "Buy" and an average target price of $159.86.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the firm's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the sale, the chief executive officer now directly owns 2,332,691 shares of the company's stock, valued at $309,548,095.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Amie Thuener O'toole sold 682 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the transaction, the chief accounting officer now owns 28,602 shares of the company's stock, valued at $3,903,886.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the sale, the chief executive officer now directly owns 2,332,691 shares in the company, valued at $309,548,095.70. 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. 12.99% of the stock is currently owned by company insiders.

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.