Invera Wealth Advisors LLC Buys Shares of 29,442 Alphabet Inc. (NASDAQ:GOOGL)

Invera Wealth Advisors LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 29,442 shares of the information services provider’s stock, valued at approximately $4,113,000. Alphabet comprises approximately 2.6% of Invera Wealth Advisors LLC’s investment portfolio, making the stock its 8th biggest position.

Several other large investors have also recently bought and sold shares of GOOGL. Spreng Capital Management Inc. lifted its holdings in shares of Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares in the last quarter. West Family Investments Inc. lifted its holdings in Alphabet by 0.3% during the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after acquiring an additional 6 shares during the period. Maple Capital Management Inc. lifted its holdings in Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after acquiring an additional 6 shares during the period. Private Advisory Group LLC lifted its holdings in Alphabet by 1.8% during the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after acquiring an additional 7 shares during the period. Finally, Weik Capital Management lifted its holdings in Alphabet by 0.5% during the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after acquiring an additional 8 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the transaction, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at $343,710,216.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider John Kent Walker sold 28,281 shares of the company’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $141.40, for a total value of $3,998,933.40. Following the transaction, the insider now owns 25,002 shares in the company, valued at approximately $3,535,282.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the completion of the transaction, the chief executive officer now owns 2,310,191 shares in the company, valued at approximately $343,710,216.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 279,659 shares of company stock valued at $39,460,310. 0.88% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 0.4 %

Shares of GOOGL opened at $150.67 on Wednesday. The firm’s 50 day simple moving average is $143.17 and its 200 day simple moving average is $137.93. The company has a market capitalization of $1.87 trillion, a P/E ratio of 25.98, a P/E/G ratio of 1.39 and a beta of 1.04. 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 1-year low of $99.74 and a 1-year high of $153.78.

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 firm had revenue of $86.31 billion for 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 period last year, the firm posted $1.05 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on GOOGL. BMO Capital Markets lifted their price target on Alphabet from $170.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Truist Financial dropped their price target on Alphabet from $160.00 to $158.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Wedbush lifted their price target on Alphabet from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Needham & Company LLC restated a “buy” rating and issued a $160.00 target price on shares of Alphabet in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $155.00 target price on shares of Alphabet in a research note on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.48.

Alphabet Company 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.