Wealth Alliance Buys 1,586 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Wealth Alliance increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,115 shares of the information services provider’s stock after purchasing an additional 1,586 shares during the quarter. Alphabet makes up approximately 0.8% of Wealth Alliance’s portfolio, making the stock its 19th biggest holding. Wealth Alliance’s holdings in Alphabet were worth $5,464,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of GOOGL. Meritage Group LP increased its stake in shares of Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares in the last quarter. Macroview Investment Management LLC boosted its holdings in Alphabet by 165.8% in the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after buying an additional 199 shares during the period. Armor Investment Advisors LLC grew its stake in Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after buying an additional 80 shares in the last quarter. Valued Wealth Advisors LLC bought a new stake in Alphabet during the 4th quarter valued at $55,000. Finally, LFA Lugano Financial Advisors SA lifted its position in shares of Alphabet by 301.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock worth $73,000 after acquiring an additional 392 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on 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 transaction, 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. Insiders have sold 251,339 shares of company stock valued at $36,377,482 over the last ninety days. 0.88% of the stock is owned by insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $158.26 on Wednesday. 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 Inc. has a fifty-two week low of $102.63 and a fifty-two week high of $160.22. The firm has a market cap of $1.97 trillion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. The business has a 50 day moving average price of $146.69 and a 200-day moving average price of $140.93.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and issued a $185.00 price target (up from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. Roth Mkm decreased their price target on Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Wolfe Research increased their price target on shares of Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Barclays reduced their price objective on shares of Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. Finally, Truist Financial increased their target price on shares of Alphabet from $158.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $158.71.

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.