Verde Capital Management Purchases New Shares in Alphabet Inc. (NASDAQ:GOOGL)

Verde Capital Management purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,196 shares of the information services provider’s stock, valued at approximately $226,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. LMR Partners LLP purchased a new stake in Alphabet in the third quarter worth $32,000. Denver PWM LLC increased its stake in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares during the period. Quarry LP purchased a new stake in Alphabet in the second quarter worth $53,000. Teachers Insurance & Annuity Association of America purchased a new stake in Alphabet in the third quarter worth $66,000. Finally, Mendota Financial Group LLC increased its stake in 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 purchasing an additional 64 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent analyst reports. Needham & Company LLC increased their target price on Alphabet from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday. Cantor Fitzgerald cut their price target on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Loop Capital raised their price target on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada raised their price target on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $209.82.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the sale, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at $4,516,745.58. This trade represents a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,887 shares of company stock worth $22,470,464. 11.55% of the stock is owned by corporate insiders.

Alphabet Trading Up 1.8 %

Shares of NASDAQ:GOOGL opened at $195.30 on Wednesday. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $202.29. The stock has a market cap of $2.39 trillion, a price-to-earnings ratio of 25.90, a PEG ratio of 1.27 and a beta of 0.98. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $186.79 and a 200-day moving average price of $173.61.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period last year, the business earned $1.55 earnings per share. Equities analysts predict that Alphabet Inc. will post 8.02 EPS for the current 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.