Morris Financial Concepts Inc. Has $268,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Morris Financial Concepts Inc. raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,916 shares of the information services provider’s stock after buying an additional 179 shares during the period. Morris Financial Concepts Inc.’s holdings in Alphabet were worth $268,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. DC Investments Management LLC purchased a new position in shares of Alphabet during the first quarter valued at approximately $114,000. Bridgefront Capital LLC bought a new position in Alphabet during the 1st quarter valued at $225,000. Worth Asset Management LLC purchased a new position in Alphabet during the 1st quarter worth $206,000. Eudaimonia Advisors LLC grew its stake in shares of Alphabet by 15.1% in the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after acquiring an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC purchased a new stake in shares of Alphabet in the first quarter valued at about $281,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the transaction, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction 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 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. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $155.00 price objective on shares of Alphabet in a research note on Wednesday, January 31st. Truist Financial boosted their target price on shares of Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company reduced their target price on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 3rd. Mizuho lifted their price target on shares of Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, Roth Mkm reduced their price objective on Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.41.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $154.09 on Friday. The stock has a market cap of $1.92 trillion, a P/E ratio of 26.57, a PEG 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. The business’s 50-day moving average price is $146.26 and its two-hundred day moving average price is $140.54. Alphabet Inc. has a twelve month low of $102.63 and a twelve month high of $160.22.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating 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 business had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. During the same period last year, the firm posted $1.05 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

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.