Alpha Omega Wealth Management LLC Has $2.86 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Alpha Omega Wealth Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the fourth quarter, HoldingsChannel reports. The fund owned 20,473 shares of the information services provider’s stock after selling 114 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Alphabet were worth $2,860,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Meritage Group LP boosted its holdings in Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares in the last quarter. Macroview Investment Management LLC boosted its holdings in Alphabet by 165.8% in the third 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 in the last quarter. Armor Investment Advisors LLC boosted 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 valued at $47,000 after acquiring an additional 80 shares during the period. Valued Wealth Advisors LLC bought a new stake in Alphabet during the fourth quarter valued at about $55,000. Finally, LFA Lugano Financial Advisors SA boosted its holdings in 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 owned by institutional investors and hedge funds.

Alphabet Price Performance

GOOGL opened at $156.00 on Friday. The stock has a market capitalization of $1.94 trillion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05. Alphabet Inc. has a one year low of $102.63 and a one year high of $160.22. The company’s 50 day simple moving average is $147.22 and its 200-day simple moving average is $141.16. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

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 the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations 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 firm posted $1.05 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GOOGL. Royal Bank of Canada restated an “outperform” rating and set a $155.00 price target on shares of Alphabet in a report on Wednesday, January 31st. Canaccord Genuity Group upped their price target on shares of Alphabet from $180.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. JMP Securities restated a “market outperform” rating and set a $160.00 price target on shares of Alphabet in a report on Wednesday, April 10th. Citigroup restated a “buy” rating and set a $168.00 price target on shares of Alphabet in a report on Wednesday, April 10th. Finally, Wolfe Research upped their price objective on shares of Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $158.71.

Insider Activity at Alphabet

In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction 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 approximately $243,854,485.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 251,339 shares of company stock valued at $36,377,482. 0.88% of the stock is owned by corporate insiders.

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.