Advisory Alpha LLC Buys 1,075 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Advisory Alpha LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 18.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,791 shares of the information services provider’s stock after acquiring an additional 1,075 shares during the period. Advisory Alpha LLC’s holdings in Alphabet were worth $949,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Live Oak Investment Partners bought a new position in Alphabet in the 4th quarter worth about $26,000. VitalStone Financial LLC boosted its stake in shares of Alphabet by 1,900.0% during the second quarter. VitalStone Financial LLC now owns 280 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 266 shares in the last quarter. Sanctuary Wealth Management L.L.C. bought a new position in shares of Alphabet during the fourth quarter valued at approximately $34,000. Turim 21 Investimentos Ltda. bought a new position in shares of Alphabet during the third quarter valued at approximately $38,000. Finally, Meritage Group LP boosted its stake in shares of Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. JMP Securities increased their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company a “market outperform” rating in a research note on Wednesday, January 31st. BMO Capital Markets increased their price objective on shares of Alphabet from $170.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price objective on shares of Alphabet in a research note on Wednesday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $155.00 price objective on shares of Alphabet in a research note on Wednesday, January 31st. Finally, Susquehanna increased their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $155.39.

Alphabet Trading Up 1.1 %

NASDAQ GOOGL opened at $156.60 on Wednesday. The company has a fifty day simple moving average of $144.33 and a two-hundred day simple moving average of $139.28. The stock has a market cap of $1.95 trillion, a P/E ratio of 27.00, a P/E/G ratio of 1.41 and a beta of 1.05. Alphabet Inc. has a 12-month low of $102.63 and a 12-month high of $158.56. 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:GOOGL) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter last year, the company posted $1.05 earnings per share. On average, analysts forecast that Alphabet Inc. will post 6.77 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were 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 owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were 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 owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders sold a total of 250,539 shares of company stock valued at $35,906,259 over the last 90 days. Insiders own 0.88% 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.