Seelaus Asset Management LLC Purchases 1,077 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Seelaus Asset Management LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 6.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 17,908 shares of the information services provider’s stock after purchasing an additional 1,077 shares during the quarter. Alphabet comprises approximately 2.4% of Seelaus Asset Management LLC’s portfolio, making the stock its 5th biggest position. Seelaus Asset Management LLC’s holdings in Alphabet were worth $2,502,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in GOOGL. RWQ Financial Management Services Inc. boosted its position 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 worth $8,591,000 after acquiring an additional 4,664 shares during the last quarter. Ballast Advisors LLC boosted 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 valued at $2,061,000 after purchasing an additional 1,385 shares during the last quarter. Quantum Financial Advisors LLC grew its stake in shares of Alphabet by 8.0% during the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after buying an additional 564 shares during the period. Acadian Asset Management LLC grew its stake in shares of Alphabet by 2.4% during the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock valued at $577,908,000 after buying an additional 104,366 shares during the period. Finally, NatWest Group plc increased its holdings in shares of Alphabet by 239.0% during the 4th quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock worth $14,080,000 after buying an additional 71,057 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 230 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock valued at $36,377,482 in the last quarter. Insiders own 0.88% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $156.01 on Friday. The company has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. The business has a 50 day simple moving average of $146.16 and a 200-day simple moving average of $140.40. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $102.63 and a twelve month high of $160.22.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company 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 earned $1.05 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on GOOGL. Truist Financial boosted their price target on Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays dropped their target price on shares of Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. Roth Mkm reduced their price target on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Wolfe Research boosted their price objective on shares of Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Finally, Wells Fargo & Company cut their target price on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 3rd. Five analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $157.97.

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.