Valmark Advisers Inc. Has $4.86 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Valmark Advisers Inc. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,479 shares of the information services provider’s stock after acquiring an additional 889 shares during the period. Valmark Advisers Inc.’s holdings in Alphabet were worth $4,859,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GOOG. Exchange Traded Concepts LLC bought a new position in shares of Alphabet in the third quarter valued at $1,065,000. Private Trust Co. NA lifted its stake in shares of Alphabet by 8.9% in the third quarter. Private Trust Co. NA now owns 45,311 shares of the information services provider’s stock valued at $5,974,000 after buying an additional 3,713 shares in the last quarter. Wagner Wealth Management LLC lifted its stake in shares of Alphabet by 8.8% in the third quarter. Wagner Wealth Management LLC now owns 5,730 shares of the information services provider’s stock valued at $756,000 after buying an additional 462 shares in the last quarter. Strategic Blueprint LLC lifted its stake in shares of Alphabet by 6.6% in the third quarter. Strategic Blueprint LLC now owns 11,024 shares of the information services provider’s stock valued at $1,453,000 after buying an additional 679 shares in the last quarter. Finally, Marion Wealth Management bought a new position in shares of Alphabet in the third quarter valued at $445,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOG traded up $15.74 during trading hours on Friday, reaching $173.69. 56,500,787 shares of the company were exchanged, compared to its average volume of 18,324,858. Alphabet Inc. has a 1 year low of $104.42 and a 1 year high of $176.42. The business’s 50 day simple moving average is $149.12 and its 200-day simple moving average is $142.77. 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 stock has a market capitalization of $2.16 trillion, a P/E ratio of 26.64, a P/E/G ratio of 1.60 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter last year, the company posted $1.17 earnings per share. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, equities research analysts expect that Alphabet Inc. will post 6.8 earnings per share for the current year.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the transaction, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. 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 2,100 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The disclosure for this sale can be found here. Insiders sold 253,439 shares of company stock worth $36,746,578 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GOOG shares. Susquehanna raised their price objective 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 report on Thursday, April 11th. Stifel Nicolaus increased their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Raymond James increased their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Finally, Oppenheimer increased their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $165.67.

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.