Turtle Creek Wealth Advisors LLC Acquires New Position in Alphabet Inc. (NASDAQ:GOOGL)

Turtle Creek Wealth Advisors LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 12,898 shares of the information services provider’s stock, valued at approximately $1,802,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Dearborn Partners LLC increased its position in shares of Alphabet by 0.5% during the fourth quarter. Dearborn Partners LLC now owns 26,643 shares of the information services provider’s stock valued at $3,722,000 after buying an additional 125 shares during the period. Inlet Private Wealth LLC increased its position in shares of Alphabet by 3.5% during the fourth quarter. Inlet Private Wealth LLC now owns 25,769 shares of the information services provider’s stock valued at $3,600,000 after buying an additional 875 shares during the period. Fortune Financial Advisors LLC increased its position in shares of Alphabet by 3.6% during the fourth quarter. Fortune Financial Advisors LLC now owns 22,968 shares of the information services provider’s stock valued at $3,208,000 after buying an additional 792 shares during the period. Trifecta Capital Advisors LLC increased its position in shares of Alphabet by 11.2% during the fourth quarter. Trifecta Capital Advisors LLC now owns 17,789 shares of the information services provider’s stock valued at $2,485,000 after buying an additional 1,796 shares during the period. Finally, Hanson & Doremus Investment Management increased its position in shares of Alphabet by 1.9% during the fourth quarter. Hanson & Doremus Investment Management now owns 32,975 shares of the information services provider’s stock valued at $4,606,000 after buying an additional 625 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of Alphabet stock opened at $154.86 on Tuesday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.93 trillion, a PE ratio of 26.70, a P/E/G ratio of 1.46 and a beta of 1.05. The business has a 50 day moving average of $145.55 and a 200 day moving average of $140.02. Alphabet Inc. has a 52 week low of $102.63 and a 52 week high of $160.22.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter in the prior year, the company earned $1.05 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 6.78 earnings per share for the current year.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the sale, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 251,339 shares of company stock worth $36,033,907. 0.88% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Rosenblatt Securities cut their price objective on Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Wells Fargo & Company cut their price objective on Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a report on Wednesday, April 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $155.00 price objective on shares of Alphabet in a report on Wednesday, January 31st. Wedbush reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Alphabet in a research note on Wednesday, April 10th. Finally, Susquehanna upped their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note 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 given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $155.61.

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.