Alphabet Inc. (NASDAQ:GOOG) is Overbrook Management Corp’s 2nd Largest Position

Overbrook Management Corp trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 275,276 shares of the information services provider’s stock after selling 1,919 shares during the quarter. Alphabet comprises about 7.8% of Overbrook Management Corp’s holdings, making the stock its 2nd biggest position. Overbrook Management Corp’s holdings in Alphabet were worth $38,795,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cranbrook Wealth Management LLC lifted its stake in Alphabet by 14.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock worth $80,000 after purchasing an additional 70 shares during the period. Manchester Financial Inc. lifted its stake in Alphabet by 3.6% during the fourth quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock worth $299,000 after purchasing an additional 74 shares during the period. Atticus Wealth Management LLC lifted its stake in Alphabet by 1.4% during the third quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock worth $694,000 after purchasing an additional 75 shares during the period. Congress Park Capital LLC lifted its stake in Alphabet by 0.3% during the fourth quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock worth $3,177,000 after purchasing an additional 76 shares during the period. Finally, Emerald Advisors LLC lifted its stake in Alphabet by 0.6% during the fourth quarter. Emerald Advisors LLC now owns 13,565 shares of the information services provider’s stock worth $1,912,000 after purchasing an additional 76 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Oppenheimer raised their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Susquehanna lifted their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Raymond James lifted their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Finally, Stifel Nicolaus lifted their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and an average price target of $165.67.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 253,439 shares of company stock valued at $36,746,578. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $173.69 on Friday. 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 firm has a market cap of $2.16 trillion, a P/E ratio of 26.64, a P/E/G ratio of 1.45 and a beta of 1.05. The firm has a 50 day simple moving average of $149.12 and a 200 day simple moving average of $142.75. Alphabet Inc. has a fifty-two week low of $104.42 and a fifty-two 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. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. Alphabet’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 6.79 earnings per share for the current fiscal year.

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.