Root Financial Partners LLC Acquires New Position in Alphabet Inc. (NASDAQ:GOOGL)

Root Financial Partners LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,506 shares of the information services provider’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Aire Advisors LLC lifted its holdings in Alphabet by 0.6% during the 4th quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after buying an additional 68 shares in the last quarter. Capital Advisors Inc. OK lifted its holdings in Alphabet by 3.9% during the 4th quarter. Capital Advisors Inc. OK now owns 27,615 shares of the information services provider’s stock valued at $3,858,000 after buying an additional 1,034 shares in the last quarter. Brooklyn FI LLC bought a new stake in Alphabet during the 4th quarter valued at about $241,000. Simplicity Wealth LLC bought a new stake in Alphabet during the 4th quarter valued at about $394,000. Finally, Crumly & Associates Inc. lifted its holdings in Alphabet by 20.8% during the 4th quarter. Crumly & Associates Inc. now owns 5,718 shares of the information services provider’s stock valued at $799,000 after buying an additional 984 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 1.2 %

GOOGL stock opened at $154.09 on Monday. The firm’s fifty day simple moving average is $146.26 and its 200-day simple moving average is $140.64. The company has a market capitalization of $1.92 trillion, a P/E ratio of 26.57, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. 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 Inc. has a 12 month low of $102.63 and a 12 month high of $160.22.

Alphabet (NASDAQ:GOOGL) last released 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. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. During the same period in the prior year, the firm earned $1.05 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 6.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GOOGL. Canaccord Genuity Group boosted 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. Truist Financial boosted their price target on shares of Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. JMP Securities restated a “market outperform” rating and issued a $160.00 price target on shares of Alphabet in a report on Wednesday, April 10th. Royal Bank of Canada restated an “outperform” rating and issued a $155.00 price target on shares of Alphabet in a report on Wednesday, January 31st. Finally, Redburn Atlantic boosted their price target on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $158.41.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,339 shares of company stock valued at $36,377,482. Corporate insiders own 0.88% of the company’s stock.

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.