Patrick M Sweeney & Associates Inc. Invests $2.04 Million in Alphabet Inc. (NASDAQ:GOOG)

Patrick M Sweeney & Associates Inc. bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, Holdings Channel.com reports. The firm bought 14,455 shares of the information services provider’s stock, valued at approximately $2,037,000. Alphabet makes up 1.9% of Patrick M Sweeney & Associates Inc.’s holdings, making the stock its 9th biggest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tandem Wealth Advisors LLC purchased a new stake in Alphabet in the 3rd quarter worth approximately $25,000. Bruce G. Allen Investments LLC bought a new position in shares of Alphabet in the fourth quarter worth approximately $26,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Alphabet in the fourth quarter worth $28,000. Buck Wealth Strategies LLC bought a new stake in shares of Alphabet during the 3rd quarter valued at $32,000. Finally, Barometer Capital Management Inc. bought a new position in Alphabet in the 3rd quarter worth $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the transaction, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the sale, the chief executive officer now owns 2,280,511 shares in the company, valued at $380,389,234.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 275,129 shares of company stock valued at $40,382,765. 12.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent analyst reports. Raymond James raised their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Oppenheimer increased their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Susquehanna boosted their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Finally, Stifel Nicolaus raised their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $165.67.

Alphabet Trading Up 1.9 %

Shares of NASDAQ:GOOG traded up $3.15 during trading on Tuesday, reaching $172.98. The company’s stock had a trading volume of 21,087,028 shares, compared to its average volume of 22,735,842. The firm’s 50 day simple moving average is $152.74 and its two-hundred day simple moving average is $144.21. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $105.79 and a 12 month high of $176.42. The stock has a market capitalization of $2.14 trillion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, research analysts predict that Alphabet Inc. will post 7.66 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th.

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.