MBE Wealth Management LLC Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

MBE Wealth Management LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,584 shares of the information services provider’s stock, valued at approximately $221,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Alphabet by 0.3% in the third quarter. Vanguard Group Inc. now owns 487,435,495 shares of the information services provider’s stock valued at $63,785,809,000 after buying an additional 1,302,104 shares during the period. FMR LLC boosted its position in Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after buying an additional 12,070,681 shares during the period. State Street Corp grew its holdings in Alphabet by 1,900.6% during the 3rd 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 last quarter. Moneta Group Investment Advisors LLC increased its position in Alphabet by 111,197.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after acquiring an additional 170,267,122 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Alphabet by 1.3% during the first quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock valued at $12,271,705,000 after acquiring an additional 1,499,107 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 0.3 %

Shares of NASDAQ:GOOGL opened at $156.01 on Friday. The stock has a market cap of $1.94 trillion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.42 and a beta of 1.05. The business’s 50 day moving average is $146.16 and its 200 day moving average is $140.40. Alphabet Inc. has a 12-month low of $102.63 and a 12-month high of $160.22. 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 (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 firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period in the previous year, the firm earned $1.05 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Wells Fargo & Company decreased 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. Citigroup restated a “buy” rating and set a $168.00 price objective on shares of Alphabet in a research report on Wednesday, April 10th. UBS Group upped their target price on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a report on Tuesday. Roth Mkm lowered their price target on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Finally, Barclays reduced their price objective on shares of Alphabet from $180.00 to $173.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.97.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the 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 sale, the chief executive officer now owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was 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 directly owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 251,339 shares of company stock worth $36,377,482. 0.88% of the stock is owned by insiders.

Alphabet 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.