Phoenix Wealth Advisors lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 21.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,578 shares of the information services provider’s stock after acquiring an additional 639 shares during the period. Phoenix Wealth Advisors’ holdings in Alphabet were worth $677,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. LMR Partners LLP purchased a new stake in shares of Alphabet in the 3rd quarter valued at $32,000. Denver PWM LLC boosted its position in Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after buying an additional 57 shares during the period. Quarry LP bought a new position in shares of Alphabet during the second quarter valued at about $53,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Alphabet in the third quarter worth about $66,000. Finally, Mendota Financial Group LLC increased its holdings in shares of Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after buying an additional 64 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Stock Performance
Shares of Alphabet stock opened at $191.81 on Tuesday. The company has a market capitalization of $2.35 trillion, a PE ratio of 25.44, a P/E/G ratio of 1.27 and a beta of 0.98. The company has a 50-day simple moving average of $186.46 and a two-hundred day simple moving average of $173.57. Alphabet Inc. has a one year low of $130.66 and a one year high of $202.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Bank of America restated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Monday, December 23rd. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. JMP Securities restated a “market perform” rating on shares of Alphabet in a report on Monday. Truist Financial increased their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $217.00 target price (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.82.
Check Out Our Latest Analysis on Alphabet
Insiders Place Their Bets
In related news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the sale, the chief accounting officer now directly owns 17,847 shares in the company, valued at $3,468,029.04. This trade represents a 13.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now owns 330,466 shares in the company, valued at $59,741,643.48. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,387 shares of company stock valued at $24,368,654. 11.55% of the stock is currently owned by insiders.
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.
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