Corbyn Investment Management Inc. MD Has $8.05 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Corbyn Investment Management Inc. MD cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,146 shares of the information services provider’s stock after selling 1,097 shares during the quarter. Alphabet comprises 3.8% of Corbyn Investment Management Inc. MD’s investment portfolio, making the stock its 5th largest holding. Corbyn Investment Management Inc. MD’s holdings in Alphabet were worth $8,054,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GOOG. Tandem Wealth Advisors LLC bought a new position in shares of Alphabet during the 3rd quarter worth about $25,000. Bruce G. Allen Investments LLC acquired a new stake in Alphabet during the fourth quarter valued at approximately $26,000. Equitec Proprietary Markets LLC bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $28,000. Buck Wealth Strategies LLC acquired a new position in shares of Alphabet in the 3rd quarter worth approximately $32,000. Finally, Barometer Capital Management Inc. bought a new position in shares of Alphabet during the 3rd quarter worth approximately $32,000. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Oppenheimer increased their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus boosted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Raymond James increased their price objective on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Finally, Susquehanna boosted their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and a consensus price target of $159.86.

Alphabet Trading Up 9.9 %

Shares of NASDAQ:GOOG traded up $15.68 during mid-day trading on Friday, reaching $173.63. The stock had a trading volume of 39,014,663 shares, compared to its average volume of 22,413,301. Alphabet Inc. has a twelve month low of $104.42 and a twelve month high of $176.42. 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 firm has a market cap of $2.16 trillion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 1.48 and a beta of 1.05. The firm has a 50 day simple moving average of $148.48 and a two-hundred day simple moving average of $142.51.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 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 15.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.17 earnings per share. On average, research analysts predict that Alphabet Inc. will post 6.79 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock valued at $36,377,482 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

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.