Alphabet Inc. (NASDAQ:GOOGL) is Xcel Wealth Management LLC’s 3rd Largest Position

Xcel Wealth Management LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 116,865 shares of the information services provider’s stock after selling 1,944 shares during the quarter. Alphabet makes up 5.7% of Xcel Wealth Management LLC’s portfolio, making the stock its 3rd biggest holding. Xcel Wealth Management LLC’s holdings in Alphabet were worth $16,325,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of 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 worth $45,628,484,000 after purchasing an additional 453,413,389 shares in the last quarter. State Street Corp raised its holdings in shares of Alphabet by 1,900.6% in the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after acquiring an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of Alphabet by 111,197.8% in the fourth 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 acquiring an additional 170,267,122 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Alphabet by 1,759.2% during the third 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 acquiring an additional 109,870,525 shares during the last quarter. Finally, Norges Bank purchased a new stake in Alphabet during the 4th quarter worth about $8,335,063,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $154.09 on Friday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.92 trillion, a price-to-earnings ratio of 26.57, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. Alphabet Inc. has a twelve month low of $102.63 and a twelve month high of $160.22. The business has a 50 day simple moving average of $146.26 and a 200-day simple moving average of $140.54.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm 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 company posted $1.05 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current year.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, April 17th. The shares were 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 owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $3,541,725.00. Following the completion of 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. In the last three months, insiders sold 251,339 shares of company stock valued at $36,377,482. Company insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several analyst reports. Susquehanna raised their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. BMO Capital Markets restated an “outperform” rating and set a $185.00 target price (up previously from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. UBS Group boosted their price target on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a report on Tuesday. Wolfe Research increased their target price on Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price target on shares of Alphabet in a report on Wednesday, January 31st. Five 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 stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $158.41.

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.