Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Procyon Advisors LLC

Procyon Advisors LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 4.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 68,450 shares of the information services provider’s stock after purchasing an additional 3,018 shares during the period. Alphabet accounts for approximately 0.8% of Procyon Advisors LLC’s portfolio, making the stock its 23rd biggest holding. Procyon Advisors LLC’s holdings in Alphabet were worth $9,647,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Moneta Group Investment Advisors LLC boosted its holdings in Alphabet by 61,587.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after purchasing an additional 129,835,437 shares during the last quarter. FMR LLC lifted its holdings in Alphabet by 3.8% in the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after acquiring an additional 4,348,188 shares during the last quarter. JPMorgan Chase & Co. grew its position in Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after acquiring an additional 9,703,425 shares during the period. Morgan Stanley raised its position in Alphabet by 37.6% in the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock valued at $6,368,961,000 after purchasing an additional 19,612,974 shares during the period. Finally, Northern Trust Corp increased its holdings in Alphabet by 2.3% in the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after purchasing an additional 1,275,060 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 425 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $139.61, for a total transaction of $59,334.25. Following the transaction, the chief accounting officer now directly owns 27,259 shares in the company, valued at approximately $3,805,628.99. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CAO Amie Thuener O’toole sold 425 shares of Alphabet stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $139.61, for a total transaction of $59,334.25. Following the transaction, the chief accounting officer now owns 27,259 shares in the company, valued at approximately $3,805,628.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 240 shares of the stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $140.51, for a total value of $33,722.40. Following the completion of the sale, the director now owns 14,815 shares of the company’s stock, valued at approximately $2,081,655.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 251,378 shares of company stock valued at $35,461,377. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG traded down $0.16 during midday trading on Thursday, hitting $151.78. The company had a trading volume of 2,002,174 shares, compared to its average volume of 22,814,813. The business has a 50-day simple moving average of $144.57 and a two-hundred day simple moving average of $139.30. The firm has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 1.40 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $100.29 and a twelve month high of $155.20.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. During the same quarter last year, the business posted $1.05 earnings per share. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post 6.77 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.