Tanager Wealth Management LLP Raises Holdings in Alphabet Inc. (NASDAQ:GOOG)

Tanager Wealth Management LLP lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 24.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,330 shares of the information services provider’s stock after acquiring an additional 24,115 shares during the quarter. Alphabet makes up 3.1% of Tanager Wealth Management LLP’s portfolio, making the stock its 8th biggest position. Tanager Wealth Management LLP’s holdings in Alphabet were worth $17,099,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Moneta Group Investment Advisors LLC boosted its position in shares of Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after purchasing an additional 129,835,437 shares in the last quarter. FMR LLC boosted its holdings in shares of Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after buying an additional 4,348,188 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Alphabet by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after buying an additional 9,703,425 shares during the period. Morgan Stanley increased its stake in shares of Alphabet by 37.6% in the 4th quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after acquiring an additional 19,612,974 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Alphabet by 2.3% during the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after acquiring an additional 1,275,060 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock valued at $36,377,482 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG opened at $155.72 on Monday. The company’s 50-day simple moving average is $147.46 and its two-hundred day simple moving average is $141.97. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a market capitalization of $1.94 trillion, a P/E ratio of 26.85, a P/E/G ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a 52-week low of $103.27 and a 52-week high of $161.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data 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 the consensus estimate of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.05 earnings per share. As a group, analysts predict that Alphabet Inc. will post 6.78 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GOOG shares. Stifel Nicolaus upped their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Raymond James raised their price objective on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Susquehanna raised their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Finally, Oppenheimer increased their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet has an average rating of “Buy” and a consensus price target of $159.86.

Alphabet Company 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.