Scissortail Wealth Management LLC Increases Position in Alphabet Inc. (NASDAQ:GOOGL)

Scissortail Wealth Management LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 274.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,527 shares of the information services provider’s stock after acquiring an additional 10,650 shares during the quarter. Scissortail Wealth Management LLC’s holdings in Alphabet were worth $2,230,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Meritage Group LP increased its position in shares of Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares during the last quarter. Macroview Investment Management LLC increased its holdings in Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after buying an additional 199 shares during the last quarter. Armor Investment Advisors LLC increased its holdings in Alphabet by 31.0% during the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after buying an additional 80 shares during the last quarter. Valued Wealth Advisors LLC purchased a new position in Alphabet in the fourth quarter valued at about $55,000. Finally, LFA Lugano Financial Advisors SA grew its position in shares of Alphabet by 301.5% during the 4th 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 owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction that occurred 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 transaction, the director now directly 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 through the SEC website. In related news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 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 of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 in the last ninety days. 0.88% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $185.00 price target (up previously from $178.00) on shares of Alphabet in a report on Wednesday, April 10th. Truist Financial upped their price target on Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Canaccord Genuity Group boosted their price objective on Alphabet from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Wedbush reiterated an “outperform” rating and set a $175.00 target price on shares of Alphabet in a research report on Wednesday, April 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $160.00 price target on shares of Alphabet in a research report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.71.

Alphabet Price Performance

Shares of Alphabet stock opened at $159.13 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet Inc. has a 52-week low of $102.63 and a 52-week high of $160.22. The company has a fifty day moving average of $146.96 and a 200-day moving average of $141.06. The stock has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion during 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 prior year, the business posted $1.05 earnings per share. Equities research analysts expect that Alphabet Inc. will post 6.78 EPS 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.