Trifecta Capital Advisors LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Trifecta Capital Advisors LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 11.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 17,789 shares of the information services provider’s stock after purchasing an additional 1,796 shares during the period. Trifecta Capital Advisors LLC’s holdings in Alphabet were worth $2,485,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. raised its position in Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after purchasing an additional 453,413,389 shares during the period. State Street Corp increased its position in shares of Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after acquiring an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC increased its position in shares of Alphabet by 111,197.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after acquiring an additional 170,267,122 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after acquiring an additional 109,870,525 shares during the period. Finally, Norges Bank purchased a new position in shares of Alphabet during the fourth quarter worth approximately $8,335,063,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 target price on shares of Alphabet in a research report on Wednesday, April 10th. Wolfe Research raised their target price on shares of Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Barclays reduced their target price on shares of Alphabet from $180.00 to $173.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $155.00 target price on shares of Alphabet in a research report on Wednesday, January 31st. Finally, Wells Fargo & Company cut their price objective on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 3rd. Five analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $155.61.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the transaction, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,033,907 over the last three months. Company insiders own 0.88% of the company’s stock.

Alphabet Trading Down 1.8 %

NASDAQ:GOOGL opened at $154.86 on Tuesday. Alphabet Inc. has a 12 month low of $102.63 and a 12 month high of $160.22. The firm has a fifty day simple moving average of $145.55 and a 200-day simple moving average of $140.02. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.93 trillion, a P/E ratio of 26.70, a PEG ratio of 1.46 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 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 business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current 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.