Ctc LLC Increases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Ctc LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 540.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 340,685 shares of the information services provider’s stock after buying an additional 287,449 shares during the period. Alphabet accounts for 0.0% of Ctc LLC’s portfolio, making the stock its 14th biggest holding. Ctc LLC’s holdings in Alphabet were worth $48,013,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Bruce G. Allen Investments LLC purchased a new position in Alphabet during the 4th quarter worth $26,000. Tandem Wealth Advisors LLC purchased a new position in shares of Alphabet in the 3rd quarter valued at about $25,000. Equitec Proprietary Markets LLC purchased a new position in Alphabet during the fourth quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet in the fourth quarter valued at approximately $32,000. Finally, Buck Wealth Strategies LLC purchased a new position in Alphabet during the third quarter valued at $32,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Raymond James lifted 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. Susquehanna lifted their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Finally, Oppenheimer raised their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $165.67.

Alphabet Stock Performance

Alphabet stock traded up $3.15 during mid-day trading on Tuesday, hitting $172.98. 21,087,028 shares of the company’s stock traded hands, compared to its average volume of 22,735,842. The firm has a 50 day simple moving average of $152.74 and a two-hundred day simple moving average of $144.21. The stock has a market cap of $2.14 trillion, a price-to-earnings ratio of 26.53, a P/E/G ratio of 1.26 and a beta of 1.02. Alphabet Inc. has a fifty-two week low of $105.79 and a fifty-two week high of $176.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data 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. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.17 EPS. On average, research analysts expect that Alphabet Inc. will post 7.66 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at $3,903,886.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at $3,903,886.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 275,129 shares of company stock valued at $40,382,765. Corporate insiders own 12.99% of the company’s stock.

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.