Obermeyer Wood Investment Counsel Lllp Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Obermeyer Wood Investment Counsel Lllp increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,713 shares of the information services provider’s stock after buying an additional 1,303 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in Alphabet were worth $4,849,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Xponance Inc. boosted its holdings in Alphabet by 0.9% in the 4th quarter. Xponance Inc. now owns 1,433,896 shares of the information services provider’s stock valued at $200,301,000 after purchasing an additional 12,889 shares in the last quarter. AIA Group Ltd lifted its position in shares of Alphabet by 0.4% during the 4th quarter. AIA Group Ltd now owns 132,937 shares of the information services provider’s stock valued at $18,570,000 after acquiring an additional 488 shares during the period. Ninety One SA PTY Ltd lifted its position in shares of Alphabet by 19.1% during the 4th quarter. Ninety One SA PTY Ltd now owns 145,462 shares of the information services provider’s stock valued at $20,320,000 after acquiring an additional 23,289 shares during the period. Tilt Investment Management Holdings PBC acquired a new stake in shares of Alphabet during the 4th quarter valued at approximately $3,241,000. Finally, Cambridge Trust Co. lifted its position in shares of Alphabet by 0.8% during the 4th quarter. Cambridge Trust Co. now owns 481,770 shares of the information services provider’s stock valued at $67,298,000 after acquiring an additional 4,054 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director John L. Hennessy sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the transaction, the director now owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 230 shares of the business’s 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 sale, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. Insiders sold a total of 253,439 shares of company stock worth $36,746,578 over the last 90 days. 0.88% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GOOGL shares. Oppenheimer lifted their price target on shares of Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday. Barclays lifted their price target on shares of Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday. Piper Sandler reiterated an “overweight” rating and set a $200.00 price target (up from $160.00) on shares of Alphabet in a research report on Friday. KeyCorp lifted their price objective on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, Royal Bank of Canada lifted their price objective on Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $187.82.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $171.95 on Friday. The firm’s 50-day simple moving average is $147.85 and its 200 day simple moving average is $141.39. The stock has a market cap of $2.14 trillion, a P/E ratio of 29.65, a P/E/G ratio of 1.47 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a fifty-two week low of $103.54 and a fifty-two week high of $174.71.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping 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 analyst estimates of $70.77 billion. During the same period in the prior year, the business posted $1.05 EPS. Equities analysts expect that Alphabet Inc. will post 6.78 EPS for the current year.

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.