Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Channing Global Advisors LLC

Channing Global Advisors LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,730 shares of the information services provider’s stock after buying an additional 255 shares during the quarter. Alphabet makes up approximately 3.9% of Channing Global Advisors LLC’s portfolio, making the stock its 6th biggest position. Channing Global Advisors LLC’s holdings in Alphabet were worth $5,035,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Lyell Wealth Management LP lifted its stake in Alphabet by 3.2% in the fourth quarter. Lyell Wealth Management LP now owns 84,313 shares of the information services provider’s stock valued at $11,882,000 after buying an additional 2,618 shares during the last quarter. Disciplined Equity Management Inc. acquired a new position in Alphabet during the fourth quarter worth $198,000. BIP Wealth LLC grew its holdings in Alphabet by 1.8% in the fourth quarter. BIP Wealth LLC now owns 6,356 shares of the information services provider’s stock valued at $896,000 after purchasing an additional 112 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Alphabet by 2.4% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 259,978 shares of the information services provider’s stock valued at $36,639,000 after acquiring an additional 6,193 shares during the last quarter. Finally, Atria Wealth Solutions Inc. lifted its position in Alphabet by 4.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 335,042 shares of the information services provider’s stock worth $47,217,000 after buying an additional 12,825 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 251,339 shares of company stock valued at $36,377,482. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG traded up $15.56 during midday trading on Friday, reaching $173.51. The stock had a trading volume of 32,832,427 shares, compared to its average volume of 22,320,887. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The company has a market capitalization of $2.16 trillion, a P/E ratio of 29.81, a P/E/G ratio of 1.48 and a beta of 1.05. The firm’s 50 day moving average price is $148.48 and its 200-day moving average price is $142.51. Alphabet Inc. has a 52 week low of $104.42 and a 52 week high of $176.42.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. Alphabet’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, analysts forecast that Alphabet Inc. will post 6.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on GOOG. Raymond James increased their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna raised their price objective on Alphabet from $150.00 to $170.00 and gave the company 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. 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. Finally, Stifel Nicolaus raised their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Six investment 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 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.