Impact Partnership Wealth LLC Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Impact Partnership Wealth LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 13.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,055 shares of the information services provider’s stock after purchasing an additional 828 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Alphabet were worth $1,336,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. LMR Partners LLP bought a new position in shares of Alphabet during the third quarter valued at approximately $32,000. Denver PWM LLC boosted its stake in shares of 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 purchasing an additional 57 shares in the last quarter. Quarry LP purchased a new stake in Alphabet during the second quarter valued at approximately $53,000. Teachers Insurance & Annuity Association of America purchased a new stake in Alphabet during the third quarter valued at approximately $66,000. Finally, Mendota Financial Group LLC lifted its position in Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after acquiring an additional 64 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on GOOGL shares. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $212.00 to $232.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Truist Financial raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. KeyCorp raised their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. Finally, China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $209.82.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total transaction of $291,330.00. Following the transaction, the director now directly owns 23,324 shares in the company, valued at $4,529,987.28. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,887 shares of company stock valued at $22,470,464 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $195.41 on Thursday. The company’s 50-day moving average price is $187.14 and its 200-day moving average price is $173.69. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.39 trillion, a P/E ratio of 25.92, a P/E/G ratio of 1.27 and a beta of 0.98. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $202.29.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period last year, the firm posted $1.55 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 8.02 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.