WMS Partners LLC Increases Stock Position in Alphabet Inc (NASDAQ:GOOG)

WMS Partners LLC raised its position in shares of Alphabet Inc (NASDAQ:GOOG) by 1.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,929 shares of the information services provider’s stock after buying an additional 52 shares during the period. Alphabet comprises about 1.6% of WMS Partners LLC’s investment portfolio, making the stock its 14th biggest holding. WMS Partners LLC’s holdings in Alphabet were worth $5,731,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Lighthouse Financial Advisors Inc. bought a new position in Alphabet in the 4th quarter worth $25,000. Cox Capital Mgt LLC purchased a new stake in Alphabet during the 1st quarter valued at about $27,000. HighMark Wealth Management LLC purchased a new stake in Alphabet during the 4th quarter valued at about $44,000. TI Trust Inc. purchased a new stake in Alphabet during the 4th quarter valued at about $48,000. Finally, Cordasco Financial Network grew its position in Alphabet by 32.1% during the 1st quarter. Cordasco Financial Network now owns 37 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 9 shares during the last quarter. 33.00% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on GOOG. BMO Capital Markets raised shares of Alphabet from a “market perform” rating to an “outperform” rating in a report on Monday, March 30th. Piper Sandler raised their price target on shares of Alphabet from $1,500.00 to $1,600.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, April 28th. ValuEngine raised shares of Alphabet from a “sell” rating to a “hold” rating in a report on Thursday, March 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of Alphabet from $1,340.00 to $1,505.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $1,580.52.

NASDAQ GOOG traded down $2.84 on Wednesday, reaching $1,436.38. 1,254,515 shares of the stock were exchanged, compared to its average volume of 1,476,573. Alphabet Inc has a one year low of $1,013.54 and a one year high of $1,532.11. The firm has a market capitalization of $982.44 billion, a PE ratio of 29.05, a PEG ratio of 2.15 and a beta of 1.06. The company’s 50-day simple moving average is $1,341.80 and its two-hundred day simple moving average is $1,338.82. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.08.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, April 28th. The information services provider reported $9.87 EPS for the quarter, missing analysts’ consensus estimates of $11.27 by ($1.40). The firm had revenue of $41.16 billion for the quarter, compared to the consensus estimate of $40.29 billion. Alphabet had a return on equity of 17.43% and a net margin of 20.71%. Alphabet’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.50 EPS. Sell-side analysts forecast that Alphabet Inc will post 41.47 earnings per share for the current fiscal year.

In other news, Director Ann Mather sold 34 shares of Alphabet stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $1,121.18, for a total transaction of $38,120.12. Following the sale, the director now owns 1,119 shares in the company, valued at $1,254,600.42. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 61 shares of Alphabet stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $1,098.26, for a total transaction of $66,993.86. Following the sale, the chief accounting officer now owns 388 shares in the company, valued at approximately $426,124.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 265 shares of company stock worth $327,951. Company insiders own 12.99% of the company’s stock.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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