Confluence Wealth Services Inc. Purchases 909 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Confluence Wealth Services Inc. raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 27,971 shares of the information services provider’s stock after acquiring an additional 909 shares during the period. Confluence Wealth Services Inc.’s holdings in Alphabet were worth $3,907,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Altus Wealth Management LLC lifted its stake in Alphabet by 10.7% in the 4th quarter. Altus Wealth Management LLC now owns 3,695 shares of the information services provider’s stock valued at $516,000 after acquiring an additional 356 shares in the last quarter. Trivant Custom Portfolio Group LLC lifted its stake in Alphabet by 1.7% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 16,763 shares of the information services provider’s stock valued at $2,342,000 after acquiring an additional 282 shares in the last quarter. Benin Management CORP lifted its stake in Alphabet by 20.4% in the 4th quarter. Benin Management CORP now owns 5,162 shares of the information services provider’s stock valued at $721,000 after acquiring an additional 874 shares in the last quarter. Strategic Blueprint LLC lifted its stake in Alphabet by 0.8% in the 4th quarter. Strategic Blueprint LLC now owns 75,814 shares of the information services provider’s stock valued at $10,590,000 after acquiring an additional 570 shares in the last quarter. Finally, Valley National Advisers Inc. raised its stake in shares of Alphabet by 8.0% during the 4th quarter. Valley National Advisers Inc. now owns 19,153 shares of the information services provider’s stock worth $2,675,000 after purchasing an additional 1,412 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 230 shares of Alphabet 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 in the company, valued at $2,326,922.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the transaction, the director now owns 9,291 shares in the company, valued at $1,296,187.41. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock worth $36,033,907 in the last ninety days. 0.88% of the stock is owned by insiders.

Analyst Ratings Changes

GOOGL has been the topic of a number of analyst reports. Rosenblatt Securities dropped their price objective on Alphabet from $174.00 to $172.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Truist Financial dropped their price objective on Alphabet from $160.00 to $158.00 and set a “buy” rating on the stock 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. BMO Capital Markets reiterated an “outperform” rating and set a $185.00 price objective (up previously from $178.00) on shares of Alphabet in a research note on Wednesday, April 10th. Finally, KeyCorp upped their price objective on Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Five equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.61.

Alphabet Stock Performance

GOOGL opened at $154.86 on Tuesday. The firm has a market cap of $1.93 trillion, a P/E ratio of 26.70, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05. Alphabet Inc. has a 52-week low of $102.63 and a 52-week high of $160.22. 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 business’s fifty day moving average is $145.55 and its 200-day moving average is $140.02.

Alphabet (NASDAQ:GOOGL) last released 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. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same period in the prior year, the firm posted $1.05 EPS. Sell-side analysts expect that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

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.