Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Lifted by Element Wealth LLC

Element Wealth LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,128 shares of the information services provider’s stock after purchasing an additional 127 shares during the period. Element Wealth LLC’s holdings in Alphabet were worth $441,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Veracity Capital LLC boosted its stake in shares of Alphabet by 12.4% during the 4th quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after acquiring an additional 1,173 shares in the last quarter. Independence Bank of Kentucky grew its holdings in Alphabet by 25.3% during the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after purchasing an additional 1,230 shares during the last quarter. Washington Trust Bank raised its position in shares of Alphabet by 33.0% in the third quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock valued at $970,000 after purchasing an additional 1,826 shares during the period. CNB Bank lifted its stake in shares of Alphabet by 6.6% in the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after buying an additional 1,710 shares during the last quarter. Finally, Sloy Dahl & Holst LLC boosted its holdings in shares of Alphabet by 1.9% during the 3rd quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock worth $1,086,000 after buying an additional 155 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GOOG. Stifel Nicolaus boosted their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer boosted their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Susquehanna raised their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Raymond James upped their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $159.86.

Alphabet Price Performance

Shares of GOOG stock opened at $161.10 on Thursday. Alphabet Inc. has a 12 month low of $103.27 and a 12 month high of $161.70. The company has a market capitalization of $2.00 trillion, a P/E ratio of 27.78, a P/E/G ratio of 1.47 and a beta of 1.05. The stock has a 50 day moving average of $148.20 and a two-hundred day moving average of $142.40. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. Alphabet’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period last year, the business earned $1.05 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 6.79 EPS for the current year.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the sale, the chief executive officer now owns 2,377,691 shares in the company, valued at $347,832,416.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the transaction, the chief executive officer now owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock valued at $36,377,482 in the last three months. Corporate insiders own 12.99% of the company’s stock.

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.