Wealthspire Advisors LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOG)

Wealthspire Advisors LLC raised its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 130,408 shares of the information services provider's stock after buying an additional 7,541 shares during the period. Wealthspire Advisors LLC's holdings in Alphabet were worth $18,378,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tandem Wealth Advisors LLC bought a new position in Alphabet in the 3rd quarter worth approximately $25,000. Bruce G. Allen Investments LLC bought a new position in Alphabet in the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC bought a new position in Alphabet in the 4th quarter worth approximately $28,000. Buck Wealth Strategies LLC bought a new position in Alphabet in the 3rd quarter worth approximately $32,000. Finally, Barometer Capital Management Inc. bought a new position in Alphabet in the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O'toole sold 682 shares of the firm's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the sale, the chief accounting officer now owns 28,602 shares of the company's stock, valued at approximately $3,903,886.98. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the transaction, the chief executive officer now owns 2,280,511 shares in the company, valued at $380,389,234.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O'toole sold 682 shares of the business's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the transaction, the chief accounting officer now owns 28,602 shares in the company, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. Insiders have sold a total of 252,629 shares of company stock valued at $37,091,240 in the last quarter. Insiders own 12.99% of the company's stock.

Alphabet Trading Down 1.1 %

NASDAQ:GOOG traded down $1.82 during trading hours on Wednesday, reaching $171.16. The company's stock had a trading volume of 13,649,296 shares, compared to its average volume of 22,634,053. The firm has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.26 and a beta of 1.02. The firm has a 50-day simple moving average of $152.74 and a 200-day simple moving average of $144.21. Alphabet Inc. has a 1 year low of $107.72 and a 1 year high of $176.42. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.38. The company had revenue of $80.54 billion for the quarter, compared to analysts' expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm's revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.17 EPS. Research analysts expect that Alphabet Inc. will post 7.66 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a -- dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.

Wall Street Analyst Weigh In

Several research analysts have commented on GOOG shares. Oppenheimer raised their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an "outperform" rating in a report on Monday, April 8th. Morgan Stanley reissued an "overweight" rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Raymond James raised their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, January 24th. Stifel Nicolaus raised their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a "buy" rating in a research report on Tuesday, April 16th. Finally, Susquehanna raised their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a "positive" rating in a research report on Wednesday, January 31st. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet currently has an average rating of "Buy" and a consensus price target of $165.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.