Phoenix Wealth Advisors Raises Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Phoenix Wealth Advisors lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,665 shares of the information services provider’s stock after acquiring an additional 145 shares during the quarter. Phoenix Wealth Advisors’ holdings in Alphabet were worth $368,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RWQ Financial Management Services Inc. boosted its stake in 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 valued at $8,591,000 after acquiring an additional 4,664 shares in the last quarter. Ballast Advisors LLC boosted its holdings in Alphabet by 9.6% in the third quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock worth $2,061,000 after acquiring an additional 1,385 shares in the last quarter. Quantum Financial Advisors LLC grew its stake in shares of Alphabet by 8.0% during the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after acquiring an additional 564 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Alphabet by 2.4% in the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock worth $577,908,000 after purchasing an additional 104,366 shares in the last quarter. Finally, NatWest Group plc increased its stake in Alphabet by 239.0% during the 4th quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock valued at $14,080,000 after purchasing an additional 71,057 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group raised their price objective on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Susquehanna raised their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Barclays cut their price objective on shares of Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. BMO Capital Markets restated an “outperform” rating and issued a $185.00 price objective (up from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. Finally, Canaccord Genuity Group lifted their price target on shares of Alphabet from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $158.71.

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total transaction of $41,853.00. Following the completion of the sale, the director now directly owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Frances Arnold sold 230 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock valued at $36,377,482 over the last quarter. Company insiders own 0.88% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $159.13 on Thursday. The firm’s fifty day simple moving average is $146.96 and its 200-day simple moving average is $141.06. The stock has a market cap of $1.98 trillion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $102.63 and a fifty-two week 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.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $70.77 billion. During the same quarter last year, the company earned $1.05 earnings per share. Analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

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.