Firethorn Wealth Partners LLC Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Firethorn Wealth Partners LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,275 shares of the information services provider’s stock after buying an additional 219 shares during the period. Alphabet accounts for 1.0% of Firethorn Wealth Partners LLC’s investment portfolio, making the stock its 24th biggest position. Firethorn Wealth Partners LLC’s holdings in Alphabet were worth $1,945,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. LMR Partners LLP purchased a new position in Alphabet during the third quarter worth $32,000. Denver PWM LLC increased 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 worth $47,000 after buying an additional 57 shares in the last quarter. Quarry LP purchased a new position in Alphabet during the second quarter worth $53,000. Teachers Insurance & Annuity Association of America purchased a new position in Alphabet during the third quarter worth $66,000. Finally, Mendota Financial Group LLC increased 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 worth $67,000 after buying an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 2.8 %

NASDAQ:GOOGL opened at $200.87 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a one year low of $130.66 and a one year high of $202.29. The business’s 50-day simple moving average is $187.53 and its 200 day simple moving average is $173.84. The stock has a market cap of $2.46 trillion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the prior year, the firm posted $1.55 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on GOOGL. JMP Securities restated a “market perform” rating on shares of Alphabet in a report on Monday. Truist Financial raised 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. Stifel Nicolaus raised their price objective on Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 13th. The Goldman Sachs Group restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. Finally, Morgan Stanley raised their price objective on Alphabet from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $209.82.

Get Our Latest Stock Report on GOOGL

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’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 transaction of $3,990,600.00. Following the sale, the chief executive officer now owns 2,084,306 shares in the company, valued at $369,672,512.16. This represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 121,630 shares of company stock worth $22,258,133 over the last quarter. 11.55% of the stock is owned by corporate insiders.

About Alphabet

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.