Tyche Wealth Partners LLC Buys Shares of 17,548 Alphabet Inc. (NASDAQ:GOOGL)

Tyche Wealth Partners LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 17,548 shares of the information services provider’s stock, valued at approximately $2,451,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meritage Group LP boosted its stake in shares of Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares in the last quarter. Macroview Investment Management LLC boosted its position in Alphabet by 165.8% during 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 holdings in Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after acquiring an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new position in Alphabet in the 4th quarter valued at approximately $55,000. Finally, LFA Lugano Financial Advisors SA raised its stake 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 valued at $73,000 after acquiring an additional 392 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Price Performance

GOOGL opened at $159.13 on Thursday. Alphabet Inc. has a fifty-two week low of $102.63 and a fifty-two week high of $160.22. The firm has a 50-day moving average of $146.96 and a 200 day moving average of $141.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a market cap of $1.98 trillion, a P/E ratio of 27.44, a PEG ratio of 1.44 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) 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 company had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. During the same quarter last year, the business posted $1.05 EPS. On average, research analysts expect that Alphabet Inc. will post 6.78 EPS for the current year.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated 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 owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold a total of 251,339 shares of company stock worth $36,377,482 over the last ninety days. 0.88% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent research reports. Roth Mkm decreased their price objective on Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Redburn Atlantic raised their price objective on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. JMP Securities reiterated a “market outperform” rating and issued a $160.00 target price on shares of Alphabet in a report on Wednesday, April 10th. Mizuho raised their price target on shares of Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, Rosenblatt Securities reduced their price objective on shares of Alphabet from $174.00 to $172.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $158.71.

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.