Quantum Private Wealth LLC Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Quantum Private Wealth LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,930 shares of the information services provider’s stock after purchasing an additional 200 shares during the quarter. Alphabet accounts for approximately 1.7% of Quantum Private Wealth LLC’s investment portfolio, making the stock its 11th largest position. Quantum Private Wealth LLC’s holdings in Alphabet were worth $4,041,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. RWQ Financial Management Services Inc. lifted its position in Alphabet by 8.2% in the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after buying an additional 4,664 shares during the last quarter. Ballast Advisors LLC raised its stake in shares of Alphabet by 9.6% in the third quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock valued at $2,061,000 after acquiring an additional 1,385 shares during the period. Quantum Financial Advisors LLC lifted its holdings in shares of Alphabet by 8.0% in the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after acquiring an additional 564 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Alphabet by 2.4% during the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock worth $577,908,000 after purchasing an additional 104,366 shares during the period. Finally, NatWest Group plc grew its holdings in Alphabet by 239.0% during the 4th quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock valued at $14,080,000 after purchasing an additional 71,057 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the transaction, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 over the last ninety days. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a report on Wednesday, April 3rd. Canaccord Genuity Group lifted their price objective on shares of Alphabet from $180.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. UBS Group upped their target price on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Rosenblatt Securities cut their price target on Alphabet from $174.00 to $172.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Finally, Jefferies Financial Group upped their price objective on Alphabet from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.71.

Alphabet Stock Performance

NASDAQ GOOGL opened at $159.13 on Thursday. The stock’s 50 day simple moving average is $146.96 and its 200-day simple moving average is $141.06. 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. The company has a market cap of $1.98 trillion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly 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 net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. During the same period last year, the firm posted $1.05 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 6.78 EPS 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.