Nova R Wealth Inc. Invests $391,000 in Alphabet Inc. (NASDAQ:GOOGL)

Nova R Wealth Inc. bought a new position in Alphabet Inc. (NASDAQ:GOOGLFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,802 shares of the information services provider’s stock, valued at approximately $391,000.

Other institutional investors have also recently bought and sold shares of the company. Bornite Capital Management LP acquired a new position in shares of Alphabet during the 1st quarter valued at about $16,688,000. Markel Corp raised its position in shares of Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank boosted its holdings in shares of Alphabet by 5.9% during the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after buying an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Alphabet by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after buying an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management lifted its position in Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after acquiring an additional 1,570 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. StockNews.com upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 20th. Redburn Atlantic raised their price objective on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Wolfe Research lifted their target price on shares of Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Wells Fargo & Company boosted their price target on Alphabet from $141.00 to $144.00 and gave the company an “equal weight” rating in a research note on Monday, March 18th. Finally, Rosenblatt Securities dropped their price objective on Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $155.48.

Read Our Latest Stock Analysis on GOOGL

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $154.56 on Wednesday. The firm’s 50 day simple moving average is $143.95 and its 200 day simple moving average is $138.46. The company has a market capitalization of $1.92 trillion, a price-to-earnings ratio of 26.65, a P/E/G ratio of 1.39 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $101.93 and a fifty-two week high of $155.74. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. During the same period in the previous year, the firm earned $1.05 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 6.77 earnings per share for the current year.

Insider Activity at Alphabet

In other news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following 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. In the last ninety days, insiders have sold 228,239 shares of company stock valued at $32,432,382. 0.88% of the stock is owned by corporate insiders.

About Alphabet

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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