Wealth Alliance Increases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Wealth Alliance increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 39,115 shares of the information services provider’s stock after purchasing an additional 1,586 shares during the quarter. Alphabet comprises approximately 0.8% of Wealth Alliance’s investment portfolio, making the stock its 19th biggest position. Wealth Alliance’s holdings in Alphabet were worth $5,464,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Cookson Peirce & Co. Inc. lifted its stake in shares of Alphabet by 16.0% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 4,053 shares of the information services provider’s stock worth $566,000 after acquiring an additional 559 shares during the last quarter. Main Street Research LLC lifted its position in shares of Alphabet by 2.3% during the fourth quarter. Main Street Research LLC now owns 254,327 shares of the information services provider’s stock worth $35,527,000 after purchasing an additional 5,772 shares during the last quarter. Marino Stram & Associates LLC boosted its stake in shares of Alphabet by 7.7% during the fourth quarter. Marino Stram & Associates LLC now owns 9,778 shares of the information services provider’s stock valued at $1,366,000 after purchasing an additional 700 shares during the period. Marietta Wealth Management LLC grew its holdings in shares of Alphabet by 8.1% in the fourth quarter. Marietta Wealth Management LLC now owns 87,910 shares of the information services provider’s stock worth $12,289,000 after purchasing an additional 6,575 shares during the last quarter. Finally, Suncoast Equity Management increased its stake in Alphabet by 7.4% in the 4th quarter. Suncoast Equity Management now owns 133,046 shares of the information services provider’s stock worth $18,585,000 after buying an additional 9,112 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $155.00 target price on shares of Alphabet in a research note on Wednesday, January 31st. Wolfe Research raised their price objective on Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Truist Financial lifted their target price on Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Susquehanna increased their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Finally, Barclays decreased their price objective on Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $158.71.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a filing with the SEC, which is available 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 transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,339 shares of company stock valued at $36,377,482. Company insiders own 0.88% of the company’s stock.

Alphabet Stock Up 1.3 %

NASDAQ:GOOGL opened at $158.26 on Wednesday. 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. The company has a market cap of $1.97 trillion, a PE ratio of 27.29, a P/E/G ratio of 1.42 and a beta of 1.05. The company’s 50 day moving average is $146.69 and its two-hundred day moving average is $140.93.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data 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. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates 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 company earned $1.05 earnings per share. Analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current 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.