Guidance Point Advisors LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Guidance Point Advisors LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 21.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,589 shares of the information services provider’s stock after acquiring an additional 459 shares during the quarter. Guidance Point Advisors LLC’s holdings in Alphabet were worth $362,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC increased its position in shares of Alphabet by 5.6% in 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 in the last quarter. International Assets Investment Management LLC lifted 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 in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Alphabet during the 3rd quarter worth approximately $634,465,000. Ontario Teachers Pension Plan Board purchased a new stake in Alphabet in the 3rd quarter valued at approximately $601,545,000. Finally, Lone Pine Capital LLC acquired a new position in shares of Alphabet in the third quarter worth $407,367,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price objective on shares of Alphabet in a research report on Wednesday, January 31st. Mizuho raised their target price on shares of Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Canaccord Genuity Group increased their price target on Alphabet from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Barclays dropped their target price on Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. Finally, KeyCorp lifted their price target on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Monday. 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $158.71.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 660 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 251,339 shares of company stock worth $36,377,482. 0.88% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of GOOGL stock opened at $159.13 on Thursday. The firm has a fifty day moving average of $146.96 and a two-hundred day moving average of $141.06. The firm has a market cap of $1.98 trillion, a P/E ratio of 27.44, a P/E/G ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a 1-year low of $102.63 and a 1-year high of $160.22. 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 (NASDAQ:GOOGL) last posted its quarterly earnings results 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. 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 the consensus estimate of $70.77 billion. During the same period last year, the firm earned $1.05 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

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.