Tyche Wealth Partners LLC Buys Shares of 17,548 Alphabet Inc. (NASDAQ:GOOGL)

Tyche Wealth Partners LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 17,548 shares of the information services provider’s stock, valued at approximately $2,451,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after buying an additional 12,070,681 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Alphabet by 4,894.1% in the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after purchasing an additional 5,336,359 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Alphabet during the third quarter worth about $634,465,000. Ontario Teachers Pension Plan Board purchased a new stake in Alphabet in the third quarter valued at approximately $601,545,000. Finally, Lone Pine Capital LLC purchased a new position in Alphabet during the 3rd quarter worth approximately $407,367,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several recent research reports. Citigroup reissued a “buy” rating and set a $168.00 target price on shares of Alphabet in a report on Wednesday, April 10th. JMP Securities reiterated a “market outperform” rating and issued a $160.00 target price on shares of Alphabet in a research note on Wednesday, April 10th. Wedbush restated an “outperform” rating and set a $175.00 price target on shares of Alphabet in a research report on Wednesday, April 10th. UBS Group lifted their price target on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, Mizuho lifted their target price on shares of Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Five equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.71.

Alphabet Trading Up 0.5 %

Shares of GOOGL stock opened at $159.13 on Thursday. Alphabet Inc. has a fifty-two week low of $102.63 and a fifty-two week high of $160.22. The company has a 50 day moving average price of $146.96 and a 200 day moving average price of $141.06. The stock has a market capitalization of $1.98 trillion, a P/E ratio of 27.44, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Equities research analysts predict that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the sale, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction on Thursday, February 1st. The stock was 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 disclosure for this sale can be found here. Insiders have sold a total of 251,339 shares of company stock worth $36,377,482 in the last quarter. 0.88% of the stock is owned by company insiders.

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.