Alphabet Inc. (NASDAQ:GOOG) Holdings Increased by Procyon Advisors LLC

Procyon Advisors LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.6% in the 4th quarter, HoldingsChannel reports. The fund owned 68,450 shares of the information services provider’s stock after acquiring an additional 3,018 shares during the period. Alphabet accounts for approximately 0.8% of Procyon Advisors LLC’s holdings, making the stock its 23rd largest holding. Procyon Advisors LLC’s holdings in Alphabet were worth $9,647,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GOOG. Tandem Wealth Advisors LLC acquired a new stake in Alphabet during the 3rd quarter valued at $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Alphabet during the fourth quarter worth $26,000. HWG Holdings LP acquired a new stake in Alphabet during the second quarter valued at $26,000. Intrepid Capital Management Inc. purchased a new position in Alphabet in the second quarter valued at about $31,000. Finally, Buck Wealth Strategies LLC purchased a new stake in shares of Alphabet during the 3rd quarter worth about $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 240 shares of the stock in a transaction that occurred on Friday, December 29th. The stock was 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 directly owns 14,815 shares of the company’s stock, valued at $2,081,655.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on 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 completion of the transaction, 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 can be accessed through the SEC website. Also, Director Frances Arnold sold 240 shares of the firm’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $140.51, for a total transaction of $33,722.40. Following the transaction, 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. Insiders have sold a total of 251,378 shares of company stock valued at $35,461,377 in the last three months. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GOOG shares. 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. Susquehanna boosted their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $146.33.

Alphabet Stock Performance

NASDAQ:GOOG traded down $0.16 during midday trading on Thursday, reaching $151.78. The stock had a trading volume of 2,002,174 shares, compared to its average volume of 22,814,813. The stock has a market capitalization of $1.89 trillion, a P/E ratio of 26.20, a PEG ratio of 1.40 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet Inc. has a 1-year low of $100.29 and a 1-year high of $155.20. The firm’s fifty day simple moving average is $144.57 and its 200-day simple moving average is $139.30.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. During the same period last year, the business posted $1.05 earnings per share. The firm’s revenue was up 13.5% compared to the same quarter last year. On average, equities research analysts forecast that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

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.