Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,029 shares of the information services provider’s stock after purchasing an additional 953 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Alphabet were worth $3,243,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Weiss Asset Management LP purchased a new position in Alphabet in the third quarter valued at about $25,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet in the 3rd quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. raised its holdings in Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares during the last quarter. Iron Horse Wealth Management LLC boosted its position in Alphabet by 32.3% during the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after purchasing an additional 84 shares in the last quarter. Finally, Kieckhefer Group LLC acquired a new stake in Alphabet in the fourth quarter valued at $76,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $197.18 on Thursday. The company has a market cap of $2.41 trillion, a P/E ratio of 26.15, a P/E/G ratio of 1.27 and a beta of 0.99. The firm’s 50 day moving average is $188.64 and its two-hundred day moving average is $175.20. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $203.84. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.55 earnings per share. Analysts expect that Alphabet Inc. will post 8.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GOOG shares. JPMorgan Chase & Co. lifted their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Barclays upped their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group raised their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.13.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the transaction, the chief accounting officer now directly owns 17,847 shares in the company, valued at $3,468,029.04. The trade was a 13.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the sale, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 122,887 shares of company stock worth $22,470,464 in the last three months. 12.99% of the stock is currently owned by company 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.