Clarendon Private LLC Invests $2.18 Million in Alphabet Inc. (NASDAQ:GOOG)

Clarendon Private LLC bought a new position in Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,463 shares of the information services provider’s stock, valued at approximately $2,183,000. Alphabet makes up 2.3% of Clarendon Private LLC’s portfolio, making the stock its 9th biggest holding.

A number of other large investors have also bought and sold shares of the business. Weiss Asset Management LP bought a new stake in shares of Alphabet during the third quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC bought a new position in Alphabet in the 3rd quarter valued at $33,000. Sanctuary Wealth Management L.L.C. increased its stake in shares of Alphabet by 87.3% in the 3rd 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 raised its position in shares of 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 acquiring an additional 84 shares during the last quarter. Finally, Kieckhefer Group LLC acquired a new position in shares of Alphabet during the fourth quarter valued at $76,000. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 122,887 shares of company stock worth $22,470,464. 12.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Citigroup boosted their price objective on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Pivotal Research boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. UBS Group upped their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.13.

Alphabet Stock Up 1.7 %

Shares of GOOG stock opened at $197.07 on Wednesday. Alphabet Inc. has a 12-month low of $131.55 and a 12-month 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. The firm has a fifty day moving average of $188.29 and a 200-day moving average of $175.13. 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.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during 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 company’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.55 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

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.