Blossom Wealth Management Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Blossom Wealth Management raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 24.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,965 shares of the information services provider’s stock after acquiring an additional 580 shares during the period. Blossom Wealth Management’s holdings in Alphabet were worth $414,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in GOOGL. RWQ Financial Management Services Inc. boosted its holdings in shares of Alphabet by 8.2% in the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after acquiring an additional 4,664 shares during the period. Ballast Advisors LLC boosted its holdings in shares of Alphabet by 9.6% in the third quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock valued at $2,061,000 after acquiring an additional 1,385 shares during the period. Quantum Financial Advisors LLC boosted its holdings in shares of Alphabet by 8.0% in the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after acquiring an additional 564 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Alphabet by 2.4% in the third quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock valued at $577,908,000 after acquiring an additional 104,366 shares during the period. Finally, NatWest Group plc boosted its holdings in shares of Alphabet by 239.0% in the fourth quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock valued at $14,080,000 after acquiring an additional 71,057 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of 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 251,339 shares of company stock valued at $36,377,482 in the last 90 days. 0.88% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $155.00 price objective on shares of Alphabet in a report on Wednesday, January 31st. Redburn Atlantic increased their price target on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Citigroup reaffirmed a “buy” rating and set a $168.00 price target on shares of Alphabet in a report on Wednesday, April 10th. Mizuho increased their price target on Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, Roth Mkm decreased their price target on Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.00.

Alphabet Trading Up 0.7 %

NASDAQ:GOOGL opened at $155.47 on Thursday. The company has a market capitalization of $1.93 trillion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52-week low of $102.63 and a 52-week high of $160.22. The stock has a fifty day simple moving average of $145.95 and a 200-day simple moving average of $140.29.

Alphabet (NASDAQ:GOOGL) last released its quarterly 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 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 previous year, the company posted $1.05 EPS. On average, equities research analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

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.