Soltis Investment Advisors LLC Has $7.13 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Soltis Investment Advisors LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 51,055 shares of the information services provider’s stock after buying an additional 2,494 shares during the quarter. Alphabet accounts for approximately 0.8% of Soltis Investment Advisors LLC’s portfolio, making the stock its 27th biggest position. Soltis Investment Advisors LLC’s holdings in Alphabet were worth $7,132,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. RWQ Financial Management Services Inc. raised its holdings in shares of Alphabet by 8.2% in the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after acquiring an additional 4,664 shares during the last quarter. Ballast Advisors LLC raised its holdings in shares of Alphabet by 9.6% in the 3rd quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock worth $2,061,000 after acquiring an additional 1,385 shares during the last quarter. Quantum Financial Advisors LLC raised its holdings in shares of Alphabet by 8.0% in the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after acquiring an additional 564 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Alphabet by 2.4% in the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock worth $577,908,000 after acquiring an additional 104,366 shares during the last quarter. Finally, NatWest Group plc raised its holdings in shares of Alphabet by 239.0% in the 4th quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock worth $14,080,000 after acquiring an additional 71,057 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $154.40 on Wednesday. Alphabet Inc. has a 1 year low of $102.63 and a 1 year high of $160.22. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The stock has a market capitalization of $1.92 trillion, a PE ratio of 26.62, a P/E/G ratio of 1.46 and a beta of 1.05. The company’s 50 day simple moving average is $145.76 and its two-hundred day simple moving average is $140.19.

Alphabet (NASDAQ:GOOGL) last posted 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 business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. During the same period in the prior year, the company posted $1.05 EPS. Analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on GOOGL. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $155.00 price objective on shares of Alphabet in a research report on Wednesday, January 31st. Mizuho upped their price objective on shares of Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Wedbush reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Alphabet in a research report on Wednesday, April 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Alphabet in a research report on Wednesday, January 31st. Finally, Redburn Atlantic upped their price objective on shares of Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. 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 company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $156.64.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 800 shares of the firm’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 sale, the director now owns 7,991 shares in the company, valued at approximately $1,275,043.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 800 shares of the firm’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 sale, the director now owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Insiders have sold 228,839 shares of company stock worth $32,835,757 in the last three months. 0.88% of the stock is currently owned by corporate insiders.

About Alphabet

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.