Westside Investment Management Inc. Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Westside Investment Management Inc. lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,877 shares of the information services provider’s stock after purchasing an additional 76 shares during the period. Alphabet comprises approximately 1.3% of Westside Investment Management Inc.’s portfolio, making the stock its 20th largest position. Westside Investment Management Inc.’s holdings in Alphabet were worth $4,915,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Totem Point Management LLC increased its stake in shares of Alphabet by 22.0% during the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after acquiring an additional 571 shares during the period. Somerville Kurt F increased its stake in shares of Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after acquiring an additional 11 shares during the period. BCK Partners Inc. acquired a new position in shares of Alphabet during the first quarter worth about $2,564,000. Hall Capital Management Co. Inc. increased its stake in shares of Alphabet by 53.2% during the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after acquiring an additional 50 shares during the period. Finally, Fairfield Bush & CO. increased its holdings in Alphabet by 6.8% in the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after buying an additional 214 shares in the last quarter. 27.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 28,281 shares of the firm’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $141.40, for a total value of $3,998,933.40. Following the transaction, the insider now owns 25,002 shares of the company’s stock, valued at approximately $3,535,282.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider John Kent Walker sold 28,281 shares of the firm’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $141.40, for a total value of $3,998,933.40. Following the transaction, the insider now owns 25,002 shares of the company’s stock, valued at approximately $3,535,282.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold a total of 279,659 shares of company stock worth $39,460,310 in the last quarter. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Raymond James raised their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna raised their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet has a consensus rating of “Buy” and an average price target of $146.33.

Alphabet Trading Up 2.0 %

Shares of GOOG traded up $3.03 during mid-day trading on Friday, reaching $151.77. The company had a trading volume of 19,228,061 shares, compared to its average volume of 23,490,770. The stock has a market cap of $1.89 trillion, a price-to-earnings ratio of 26.21, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05. The firm has a fifty day simple moving average of $144.12 and a 200-day simple moving average of $138.94. Alphabet Inc. has a fifty-two week low of $100.28 and a fifty-two week high of $155.20. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. Alphabet’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the business earned $1.05 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

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.