Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Waterfront Wealth Inc.

Waterfront Wealth Inc. lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the fourth quarter, HoldingsChannel reports. The fund owned 27,582 shares of the information services provider’s stock after acquiring an additional 615 shares during the quarter. Alphabet comprises 1.1% of Waterfront Wealth Inc.’s holdings, making the stock its 22nd biggest position. Waterfront Wealth Inc.’s holdings in Alphabet were worth $3,853,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Meritage Group LP grew its stake 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 worth $40,000 after purchasing an additional 276 shares during the period. Macroview Investment Management LLC boosted its position 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 purchasing an additional 199 shares in the last quarter. Armor Investment Advisors LLC grew its stake 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 acquiring an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $55,000. Finally, LFA Lugano Financial Advisors SA grew its holdings in 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 buying an additional 392 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of GOOGL stock opened at $156.00 on Friday. The firm has a fifty day simple moving average of $147.22 and a 200-day simple moving average of $141.16. The company has a market capitalization of $1.94 trillion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05. Alphabet Inc. has a twelve month low of $102.63 and a twelve month high of $160.22. 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 (NASDAQ:GOOGL) last posted 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. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same period in the prior year, the company posted $1.05 EPS. Equities research analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

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 transaction of $35,433.80. Following the sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, Director Frances Arnold sold 230 shares of the 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 transaction, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 251,339 shares of company stock valued at $36,377,482. Insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GOOGL. Royal Bank of Canada reaffirmed an “outperform” rating and set a $155.00 price target on shares of Alphabet in a research note on Wednesday, January 31st. Mizuho increased their target price on Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Citigroup restated a “buy” rating and issued a $168.00 price target on shares of Alphabet in a report on Wednesday, April 10th. Susquehanna increased their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Finally, Roth Mkm decreased their target price on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Five equities 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $158.71.

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.