Elmwood Wealth Management Inc. Has $1.27 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Elmwood Wealth Management Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 13.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 8,993 shares of the information services provider’s stock after selling 1,370 shares during the period. Elmwood Wealth Management Inc.’s holdings in Alphabet were worth $1,267,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Tandem Wealth Advisors LLC purchased a new stake in shares of Alphabet during the 3rd quarter worth about $25,000. Bruce G. Allen Investments LLC acquired a new position in Alphabet in the fourth quarter worth approximately $26,000. HWG Holdings LP bought a new position in Alphabet during the second quarter valued at approximately $26,000. Equitec Proprietary Markets LLC bought a new position in Alphabet during the fourth quarter valued at approximately $28,000. Finally, Buck Wealth Strategies LLC bought a new stake in Alphabet in the third quarter worth approximately $32,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 0.6 %

GOOG opened at $156.88 on Thursday. The business has a 50 day moving average of $147.15 and a 200-day moving average of $141.61. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1-year low of $103.27 and a 1-year high of $161.70. The stock has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 27.05, a P/E/G ratio of 1.44 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The business 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%. Alphabet’s revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GOOG shares. Stifel Nicolaus lifted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday. Raymond James boosted 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. Susquehanna upped their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Oppenheimer raised their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $159.86.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was 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 directly owns 144,685 shares in the company, valued at $22,566,519.45. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction that occurred on 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 $22,566,519.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 251,339 shares of company stock valued at $36,377,482. 12.99% of the stock is currently owned by corporate 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.