1,659 Shares in Alphabet Inc. (NASDAQ:GOOGL) Acquired by Beam Wealth Advisors Inc.

Beam Wealth Advisors Inc. purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,659 shares of the information services provider’s stock, valued at approximately $232,000.

Other hedge funds have also recently bought and sold shares of the company. Meritage Group LP grew its holdings in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares during the last quarter. Macroview Investment Management LLC raised its position in Alphabet by 165.8% in the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after purchasing an additional 199 shares during the last quarter. Armor Investment Advisors LLC boosted its position in Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after buying an additional 80 shares during the last quarter. Valued Wealth Advisors LLC bought a new stake in shares of Alphabet during the fourth quarter worth $55,000. Finally, LFA Lugano Financial Advisors SA lifted its stake in shares of Alphabet by 301.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock valued at $73,000 after acquiring an additional 392 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following 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 Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frances Arnold sold 230 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 251,339 shares of company stock worth $36,377,482. Company insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on GOOGL. Wedbush reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Alphabet in a research note on Wednesday, April 10th. Needham & Company LLC reiterated a “buy” rating and set a $160.00 target price on shares of Alphabet in a research report on Wednesday, January 31st. BMO Capital Markets reissued an “outperform” rating and issued a $185.00 target price (up previously from $178.00) on shares of Alphabet in a research note on Wednesday, April 10th. Rosenblatt Securities decreased their target price on Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Finally, Citigroup reaffirmed a “buy” rating and issued a $168.00 price target on shares of Alphabet in a research note on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $158.71.

Alphabet Trading Up 0.5 %

Shares of GOOGL stock opened at $159.13 on Thursday. 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 firm has a market cap of $1.98 trillion, a P/E ratio of 27.44, a PEG ratio of 1.44 and a beta of 1.05. The company has a 50 day moving average of $146.96 and a 200-day moving average of $141.06. Alphabet Inc. has a 12-month low of $102.63 and a 12-month high of $160.22.

Alphabet (NASDAQ:GOOGL) last released its earnings results 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. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same period last year, the business posted $1.05 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current year.

Alphabet Company 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.