Baron Wealth Management LLC Raises Holdings in Alphabet Inc. (NASDAQ:GOOG)

Baron Wealth Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,575 shares of the information services provider’s stock after acquiring an additional 205 shares during the quarter. Baron Wealth Management LLC’s holdings in Alphabet were worth $871,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of GOOG. Harrell Investment Partners LLC grew its position in Alphabet by 0.9% during the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock worth $1,078,000 after purchasing an additional 53 shares during the last quarter. Redhawk Wealth Advisors Inc. boosted its stake in shares of Alphabet by 1.1% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after buying an additional 54 shares during the period. Investment Advisory Group LLC grew its holdings in shares of Alphabet by 0.7% during 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. McGlone Suttner Wealth Management Inc. increased its position in Alphabet by 4.6% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 1,275 shares of the information services provider’s stock valued at $243,000 after acquiring an additional 56 shares during the period. Finally, Sunburst Financial Group LLC raised its stake in Alphabet by 2.1% during the 3rd quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock valued at $495,000 after acquiring an additional 60 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GOOG shares. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Canaccord Genuity Group upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wedbush reissued an “outperform” rating and set a $220.00 price target on shares of Alphabet in a report on Thursday. Finally, Oppenheimer lifted their price objective on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday. Six investment 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,630 shares of company stock valued at $22,258,133 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $205.60 on Friday. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $207.08. The company has a market capitalization of $2.52 trillion, a P/E ratio of 27.27, a price-to-earnings-growth 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. The firm has a 50-day moving average price of $190.48 and a two-hundred day moving average price of $175.66.

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.