Acas LLC Purchases 235 Shares of Alphabet Inc. (NASDAQ:GOOG)

Acas LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 11.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,277 shares of the information services provider’s stock after buying an additional 235 shares during the period. Acas LLC’s holdings in Alphabet were worth $321,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GOOG. Cranbrook Wealth Management LLC raised its position in shares of Alphabet by 14.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock valued at $80,000 after purchasing an additional 70 shares in the last quarter. Columbia Trust Co 01012016 raised its position in shares of Alphabet by 3.7% during the 3rd quarter. Columbia Trust Co 01012016 now owns 2,087 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 74 shares in the last quarter. Manchester Financial Inc. raised its position in shares of Alphabet by 3.6% during the 4th quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock valued at $299,000 after acquiring an additional 74 shares in the last quarter. Atticus Wealth Management LLC raised its position in shares of Alphabet by 1.4% during the 3rd quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock valued at $694,000 after acquiring an additional 75 shares in the last quarter. Finally, Congress Park Capital LLC raised its position in shares of Alphabet by 0.3% during the 4th quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock valued at $3,177,000 after acquiring an additional 76 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 11.6 %

Shares of NASDAQ GOOG opened at $176.28 on Friday. Alphabet Inc. has a 12 month low of $104.42 and a 12 month high of $176.28. The company has a market cap of $2.19 trillion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 1.48 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $148.48 and a 200-day simple moving average of $142.51.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the prior year, the business posted $1.17 earnings per share. Alphabet’s revenue was up 15.4% compared to the same quarter last year. Sell-side analysts predict that Alphabet Inc. will post 6.79 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director Frances Arnold sold 230 shares of the 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 completion of the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Alphabet news, Director Frances Arnold sold 230 shares of the company’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 directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock valued at $36,377,482 over the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Company 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.