Hemington Wealth Management Buys 856 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Hemington Wealth Management lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 15.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,442 shares of the information services provider’s stock after buying an additional 856 shares during the quarter. Hemington Wealth Management’s holdings in Alphabet were worth $900,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Alphabet by 1,919.4% during the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after purchasing an additional 453,413,389 shares during the period. State Street Corp raised its stake in Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after purchasing an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC raised its stake in Alphabet by 111,197.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after purchasing an additional 170,267,122 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Alphabet by 1,759.2% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares during the period. Finally, Norges Bank bought a new stake in Alphabet during the 4th quarter valued at approximately $8,335,063,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $154.40 on Wednesday. Alphabet Inc. has a twelve month low of $102.63 and a twelve month high of $160.22. The stock has a market capitalization of $1.92 trillion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 1.46 and a beta of 1.05. The stock has a fifty day simple moving average of $145.76 and a two-hundred day simple moving average of $140.19. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOOGL. UBS Group lifted their target price on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research note on Tuesday. Susquehanna lifted their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. KeyCorp lifted their price objective on Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $155.00 price objective on shares of Alphabet in a research note on Wednesday, January 31st. Finally, Wells Fargo & Company reduced their price objective on Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 3rd. Five investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $156.64.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was 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 in the company, valued at approximately $2,326,922.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 300 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the sale, the director now owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 228,839 shares of company stock worth $32,835,757. 0.88% of the stock is currently owned by company insiders.

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.