Ridgecrest Wealth Partners LLC Has $4.53 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Ridgecrest Wealth Partners LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 23,797 shares of the information services provider’s stock after purchasing an additional 800 shares during the quarter. Alphabet makes up approximately 2.5% of Ridgecrest Wealth Partners LLC’s investment portfolio, making the stock its 13th biggest position. Ridgecrest Wealth Partners LLC’s holdings in Alphabet were worth $4,532,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of GOOG. Valued Wealth Advisors LLC grew its position in shares of Alphabet by 19.6% during the 4th quarter. Valued Wealth Advisors LLC now owns 830 shares of the information services provider’s stock worth $158,000 after buying an additional 136 shares during the period. McLean Asset Management Corp raised its position in shares of Alphabet by 10.1% during the 4th quarter. McLean Asset Management Corp now owns 5,953 shares of the information services provider’s stock valued at $1,134,000 after acquiring an additional 548 shares during the last quarter. Aurora Private Wealth Inc. lifted its stake in shares of Alphabet by 3.8% in the 4th quarter. Aurora Private Wealth Inc. now owns 9,189 shares of the information services provider’s stock valued at $1,750,000 after purchasing an additional 339 shares during the period. Pacer Advisors Inc. boosted its position in shares of Alphabet by 6.2% in the 4th quarter. Pacer Advisors Inc. now owns 491,486 shares of the information services provider’s stock worth $93,599,000 after purchasing an additional 28,520 shares during the last quarter. Finally, Cornerstone Wealth Group LLC lifted its stake in Alphabet by 5.9% in the fourth quarter. Cornerstone Wealth Group LLC now owns 17,029 shares of the information services provider’s stock valued at $3,243,000 after buying an additional 953 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the subject of several analyst reports. Barclays boosted their target price on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Citigroup raised their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, UBS Group boosted their price objective on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $205.13.

Alphabet Trading Up 0.1 %

NASDAQ GOOG opened at $197.18 on Thursday. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $203.84. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average of $188.64 and a 200-day moving average of $175.20. The company has a market cap of $2.41 trillion, a PE ratio of 26.15, a PEG ratio of 1.27 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.55 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the sale, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,516,745.58. This trade represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 122,887 shares of company stock worth $22,470,464. Insiders own 12.99% of the company’s stock.

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.