Morton Brown Family Wealth LLC Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Morton Brown Family Wealth LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 900.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 800 shares of the information services provider’s stock after buying an additional 720 shares during the period. Morton Brown Family Wealth LLC’s holdings in Alphabet were worth $112,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. Janiczek Wealth Management LLC grew its stake in shares of Alphabet by 1.3% during the fourth quarter. Janiczek Wealth Management LLC now owns 13,861 shares of the information services provider’s stock valued at $1,936,000 after acquiring an additional 181 shares in the last quarter. Cerity Partners LLC boosted its holdings in Alphabet by 130.2% in the fourth quarter. Cerity Partners LLC now owns 4,080,060 shares of the information services provider’s stock valued at $569,944,000 after purchasing an additional 2,307,801 shares during the last quarter. Indie Asset Partners LLC boosted its holdings in Alphabet by 3.6% in the fourth quarter. Indie Asset Partners LLC now owns 4,205 shares of the information services provider’s stock valued at $587,000 after purchasing an additional 145 shares during the last quarter. Physicians Financial Services Inc. grew its stake in Alphabet by 0.7% during the 4th quarter. Physicians Financial Services Inc. now owns 82,882 shares of the information services provider’s stock valued at $11,578,000 after purchasing an additional 600 shares in the last quarter. Finally, Seelaus Asset Management LLC raised its position in shares of Alphabet by 6.4% in the 4th quarter. Seelaus Asset Management LLC now owns 17,908 shares of the information services provider’s stock valued at $2,502,000 after purchasing an additional 1,077 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. KeyCorp raised their price target on shares of Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Wedbush reissued an “outperform” rating and set a $175.00 price objective on shares of Alphabet in a report on Wednesday, April 10th. Susquehanna upped their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Wells Fargo & Company decreased their price target on Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 3rd. Finally, JMP Securities restated a “market outperform” rating and set a $160.00 price objective on shares of Alphabet in a research note on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.97.

Alphabet Stock Performance

Shares of Alphabet stock opened at $156.01 on Friday. The stock has a market cap of $1.94 trillion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. 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. The business has a fifty day simple moving average of $146.16 and a 200-day simple moving average of $140.40.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to analysts’ expectations 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 business posted $1.05 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling 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 completion of 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 document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 251,339 shares of company stock worth $36,377,482. 0.88% of the stock is currently owned by company 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.