Sterling Group Wealth Management LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOG)

Sterling Group Wealth Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,480 shares of the information services provider’s stock after purchasing an additional 64 shares during the period. Alphabet comprises about 0.4% of Sterling Group Wealth Management LLC’s investment portfolio, making the stock its 22nd biggest position. Sterling Group Wealth Management LLC’s holdings in Alphabet were worth $853,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of GOOG. Redhawk Wealth Advisors Inc. boosted its holdings in shares of Alphabet by 1.1% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after purchasing an additional 54 shares during the period. Investment Advisory Group LLC lifted its position in Alphabet by 0.7% in the fourth quarter. Investment Advisory Group LLC now owns 7,684 shares of the information services provider’s stock worth $1,463,000 after buying an additional 56 shares during the last quarter. Sunburst Financial Group LLC boosted its stake in Alphabet by 2.1% during the third quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock worth $495,000 after buying an additional 60 shares during the period. Johnson Financial Group LLC increased its position in Alphabet by 2.6% during the third quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock valued at $395,000 after acquiring an additional 60 shares during the last quarter. Finally, Fortitude Family Office LLC raised its stake in shares of Alphabet by 0.7% in the fourth quarter. Fortitude Family Office LLC now owns 8,323 shares of the information services provider’s stock valued at $1,585,000 after acquiring an additional 60 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 1.2 %

Shares of NASDAQ:GOOG opened at $201.90 on Monday. The company has a market capitalization of $2.47 trillion, a PE ratio of 26.78, a P/E/G ratio of 1.27 and a beta of 0.99. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $203.84. The business’s fifty day simple moving average is $187.95 and its 200-day simple moving average is $175.21.

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

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the sale, the chief executive officer now owns 2,084,306 shares of the company’s stock, valued at approximately $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the transaction, the chief accounting officer now owns 26,349 shares in the company, valued at approximately $4,516,745.58. This trade represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock valued at $24,368,654 in the last 90 days. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on GOOG. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Barclays boosted their price objective on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.13.

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.