RiverFront Investment Group LLC Has $17.19 Million Position in Alphabet Inc. (NASDAQ:GOOG)

RiverFront Investment Group LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 122,006 shares of the information services provider’s stock after purchasing an additional 7,781 shares during the period. RiverFront Investment Group LLC’s holdings in Alphabet were worth $17,193,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. CX Institutional grew its stake in Alphabet by 2.3% in the third quarter. CX Institutional now owns 29,102 shares of the information services provider’s stock valued at $3,837,000 after acquiring an additional 648 shares during the period. Builder Investment Group Inc. ADV lifted its holdings in shares of Alphabet by 19.8% during the 3rd quarter. Builder Investment Group Inc. ADV now owns 2,420 shares of the information services provider’s stock valued at $319,000 after purchasing an additional 400 shares in the last quarter. Coronation Fund Managers Ltd. lifted its holdings in shares of Alphabet by 25.4% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 47,109 shares of the information services provider’s stock valued at $6,211,000 after purchasing an additional 9,534 shares in the last quarter. Goldstein Advisors LLC increased its stake in Alphabet by 12.3% during the 3rd quarter. Goldstein Advisors LLC now owns 6,479 shares of the information services provider’s stock worth $854,000 after purchasing an additional 711 shares in the last quarter. Finally, SS&H Financial Advisors Inc. bought a new position in Alphabet in the third quarter valued at approximately $2,423,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 10.0 %

Shares of NASDAQ:GOOG opened at $173.69 on Monday. The stock has a market capitalization of $2.16 trillion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05. The company’s 50-day moving average price is $149.12 and its two-hundred day moving average price is $142.78. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. Alphabet Inc. has a one year low of $104.42 and a one year high of $176.42.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. Alphabet’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.17 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 6.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GOOG. Oppenheimer increased their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Susquehanna lifted their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Raymond James upped their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Finally, Morgan Stanley reissued an “overweight” rating and issued 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, According to MarketBeat.com, Alphabet has an average rating of “Buy” and an average price target of $165.67.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 253,439 shares of company stock worth $36,746,578. Insiders own 12.99% of the company’s stock.

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.