Alphabet Inc. (NASDAQ:GOOGL) Stock Position Boosted by Wealth Effects LLC

Wealth Effects LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,070 shares of the information services provider’s stock after buying an additional 3,180 shares during the quarter. Alphabet comprises about 1.9% of Wealth Effects LLC’s investment portfolio, making the stock its 9th largest holding. Wealth Effects LLC’s holdings in Alphabet were worth $5,039,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GOOGL. Live Oak Investment Partners purchased a new stake in Alphabet in the fourth quarter valued at about $26,000. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $34,000. Turim 21 Investimentos Ltda. acquired a new stake in Alphabet in the 3rd quarter worth approximately $38,000. Meritage Group LP grew its position in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares during the last quarter. Finally, Macroview Investment Management LLC increased its stake in Alphabet by 165.8% during the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 199 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $156.01 on Friday. 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 firm has a market cap of $1.94 trillion, a PE ratio of 26.90, a PEG ratio of 1.42 and a beta of 1.05. Alphabet Inc. has a one year low of $102.63 and a one year high of $160.22. The firm has a fifty day moving average of $146.16 and a 200 day moving average of $140.40.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 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 analysts’ expectations of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same quarter in the previous year, the company earned $1.05 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Analyst Ratings Changes

GOOGL has been the subject of several research reports. Susquehanna lifted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Canaccord Genuity Group boosted their price target on Alphabet from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday. Mizuho raised their price objective on Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Roth Mkm dropped their target price on Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Finally, Wolfe Research raised their price target 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. Five analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $157.97.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares in the company, valued at $309,548,095.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction that occurred 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 transaction, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 251,339 shares of company stock valued at $36,377,482. 0.88% of the stock is owned by 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.