Affiance Financial LLC Has $2.72 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Affiance Financial LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,277 shares of the information services provider’s stock after selling 93 shares during the quarter. Alphabet makes up approximately 0.6% of Affiance Financial LLC’s portfolio, making the stock its 25th biggest position. Affiance Financial LLC’s holdings in Alphabet were worth $2,719,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GOOG. Weiss Asset Management LP acquired a new stake in Alphabet during the 3rd quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC bought a new position in Alphabet during the third quarter worth $33,000. Sanctuary Wealth Management L.L.C. lifted its holdings in Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares during the period. 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 valued at $57,000 after acquiring an additional 84 shares during the last quarter. Finally, Kieckhefer Group LLC acquired a new stake in Alphabet during the 4th quarter worth about $76,000. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of several research analyst reports. Canaccord Genuity Group upped their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer lifted their price objective on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their price target on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Scotiabank increased their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $205.13.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,887 shares of company stock worth $22,470,464 in the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG opened at $197.07 on Wednesday. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $203.84. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market capitalization of $2.41 trillion, a price-to-earnings ratio of 26.14, a P/E/G ratio of 1.27 and a beta of 0.99. The firm’s fifty day moving average price is $188.29 and its two-hundred day moving average price is $175.13.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same period in the previous year, the company earned $1.55 earnings per share. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, analysts anticipate that Alphabet Inc. will post 8.02 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.