Lorne Steinberg Wealth Management Inc. Grows Stake in Alphabet Inc. (NASDAQ:GOOG)

Lorne Steinberg Wealth Management Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 3.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,144 shares of the information services provider’s stock after purchasing an additional 142 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Alphabet were worth $584,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities research analysts have commented on GOOG shares. Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Raymond James increased their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Oppenheimer increased their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Susquehanna raised their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $159.86.

Alphabet Price Performance

Shares of Alphabet stock opened at $161.10 on Thursday. Alphabet Inc. has a twelve month low of $103.27 and a twelve month high of $161.70. The stock has a market capitalization of $2.00 trillion, a P/E ratio of 27.78, a PEG ratio of 1.47 and a beta of 1.05. 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 business’s fifty day moving average price is $148.20 and its 200 day moving average price is $142.40.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. During the same period in the previous year, the company posted $1.05 earnings per share. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc. will post 6.79 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 251,339 shares of company stock worth $36,377,482. 12.99% of the stock is currently owned by corporate insiders.

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.