Alphabet Inc. $GOOGL Shares Acquired by Alliance Wealth Management Group

Alliance Wealth Management Group lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 134.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,170 shares of the information services provider’s stock after acquiring an additional 2,390 shares during the period. Alliance Wealth Management Group’s holdings in Alphabet were worth $1,014,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC increased its position in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after buying an additional 506 shares during the period. Kooman & Associates purchased a new stake in Alphabet in the second quarter valued at approximately $229,000. Legend Financial Advisors Inc. acquired a new stake in shares of Alphabet in the second quarter valued at approximately $67,000. Finally, Blue Oak Capital LLC boosted its holdings in shares of Alphabet by 5.4% in the second quarter. Blue Oak Capital LLC now owns 1,971 shares of the information services provider’s stock valued at $347,000 after acquiring an additional 101 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barclays reiterated an “overweight” rating and issued a $315.00 price target (up previously from $250.00) on shares of Alphabet in a research report on Thursday, October 30th. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $260.00 to $305.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. Needham & Company LLC reiterated a “buy” rating and set a $330.00 target price on shares of Alphabet in a research note on Monday. Wolfe Research raised their price target on Alphabet from $380.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Finally, Guggenheim reaffirmed a “buy” rating and set a $375.00 price objective (up from $330.00) on shares of Alphabet in a research note on Monday, December 1st. Four research analysts have rated the stock with a Strong Buy rating, forty-two have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $334.60.

Check Out Our Latest Research Report on GOOGL

Insider Activity

In related news, insider John Kent Walker sold 17,829 shares of Alphabet stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $314.89, for a total transaction of $5,614,173.81. Following the sale, the insider directly owned 42,972 shares in the company, valued at $13,531,453.08. The trade was a 29.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the completion of the sale, the chief executive officer directly owned 2,337,119 shares of the company’s stock, valued at $662,526,494.12. The trade was a 1.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 222,297 shares of company stock valued at $68,531,851. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $336.01 on Thursday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $340.49. The company has a market cap of $4.05 trillion, a PE ratio of 33.14, a P/E/G ratio of 1.84 and a beta of 1.08. The stock has a 50 day simple moving average of $318.48 and a 200-day simple moving average of $263.38. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

Alphabet Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

Read More

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.