Echo45 Advisors LLC Grows Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Echo45 Advisors LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,463 shares of the information services provider’s stock after acquiring an additional 185 shares during the quarter. Alphabet comprises about 0.7% of Echo45 Advisors LLC’s holdings, making the stock its 19th largest holding. Echo45 Advisors LLC’s holdings in Alphabet were worth $903,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Chico Wealth RIA acquired a new position in shares of Alphabet in the 3rd quarter valued at approximately $330,000. Summit Global Investments raised its position in shares of Alphabet by 67.7% in the 3rd quarter. Summit Global Investments now owns 241,463 shares of the information services provider’s stock valued at $31,598,000 after purchasing an additional 97,466 shares in the last quarter. Prentice Wealth Management LLC lifted its stake in Alphabet by 18.1% during the third quarter. Prentice Wealth Management LLC now owns 7,140 shares of the information services provider’s stock worth $934,000 after purchasing an additional 1,096 shares during the last quarter. Sunflower Bank N.A. lifted its stake in Alphabet by 6.3% during the third quarter. Sunflower Bank N.A. now owns 5,951 shares of the information services provider’s stock worth $779,000 after purchasing an additional 353 shares during the last quarter. Finally, David J Yvars Group lifted its stake in Alphabet by 10.3% during the third quarter. David J Yvars Group now owns 4,170 shares of the information services provider’s stock worth $546,000 after purchasing an additional 390 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of several research analyst reports. Jefferies Financial Group raised their price objective on Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday. Redburn Atlantic raised their price objective on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. BMO Capital Markets raised their target price on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday. UBS Group raised their target price on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Stifel Nicolaus raised their target price on Alphabet from $174.00 to $196.00 and gave the company a “buy” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $187.82.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 660 shares of Alphabet 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 transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction that occurred on Friday, March 8th. The stock was 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 approximately $243,854,485.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 660 shares of the 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 sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 253,439 shares of company stock valued at $36,746,578. Corporate insiders own 0.88% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $171.95 on Friday. The company has a 50 day moving average price of $147.85 and a two-hundred day moving average price of $141.39. Alphabet Inc. has a 12-month low of $103.54 and a 12-month high of $174.71. The stock has a market capitalization of $2.14 trillion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $70.77 billion. During the same period in the prior year, the company posted $1.05 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

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.