Turtle Creek Wealth Advisors LLC Has $11.10 Million Holdings in Alphabet Inc. $GOOGL

Turtle Creek Wealth Advisors LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 14.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 63,011 shares of the information services provider’s stock after buying an additional 7,893 shares during the quarter. Alphabet accounts for approximately 1.3% of Turtle Creek Wealth Advisors LLC’s holdings, making the stock its 16th largest holding. Turtle Creek Wealth Advisors LLC’s holdings in Alphabet were worth $11,104,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Mystic Asset Management Inc. raised its stake in Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after buying an additional 1,791 shares during the period. Harbour Trust & Investment Management Co raised its stake in Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after buying an additional 80 shares during the period. Cypress Capital LLC increased its holdings in Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after purchasing an additional 563 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after purchasing an additional 13,371 shares in the last quarter. Finally, Alaethes Wealth LLC increased its holdings in Alphabet by 1.1% during the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 246,150 shares of company stock worth $55,805,379 in the last three months. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research reports. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a report on Tuesday, October 14th. Wells Fargo & Company set a $236.00 target price on Alphabet and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Wolfe Research increased their target price on Alphabet from $220.00 to $290.00 in a report on Tuesday, September 30th. Melius Research increased their target price on Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. Finally, Wedbush increased their target price on Alphabet from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $263.55.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $259.92 on Monday. The stock has a market capitalization of $3.14 trillion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.75 and a beta of 1.00. The business has a 50-day moving average of $236.72 and a 200-day moving average of $195.85. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $261.68.

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.