Masso Torrence Wealth Management Inc. Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Masso Torrence Wealth Management Inc. boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,311 shares of the information services provider’s stock after purchasing an additional 593 shares during the quarter. Alphabet makes up 2.2% of Masso Torrence Wealth Management Inc.’s holdings, making the stock its 14th largest position. Masso Torrence Wealth Management Inc.’s holdings in Alphabet were worth $3,285,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Caliber Wealth Management LLC lifted its position in shares of Alphabet by 2.6% in the third quarter. Caliber Wealth Management LLC now owns 22,036 shares of the information services provider’s stock valued at $2,905,000 after acquiring an additional 551 shares in the last quarter. Legacy Capital Wealth Partners LLC purchased a new position in shares of Alphabet in the third quarter valued at approximately $508,000. Investment Advisory Group LLC lifted its position in shares of Alphabet by 1.1% in the third quarter. Investment Advisory Group LLC now owns 7,578 shares of the information services provider’s stock valued at $999,000 after acquiring an additional 82 shares in the last quarter. Palumbo Wealth Management LLC lifted its position in Alphabet by 47.7% during the third quarter. Palumbo Wealth Management LLC now owns 8,107 shares of the information services provider’s stock worth $1,069,000 after buying an additional 2,617 shares in the last quarter. Finally, Rothschild Investment LLC IL lifted its position in Alphabet by 0.8% during the third quarter. Rothschild Investment LLC IL now owns 126,512 shares of the information services provider’s stock worth $16,681,000 after buying an additional 1,065 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity

In other news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 251,339 shares of company stock valued at $36,377,482. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

GOOG stock opened at $161.10 on Thursday. Alphabet Inc. has a 52-week low of $103.27 and a 52-week high of $161.70. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average of $148.20 and a two-hundred day moving average of $142.40. The stock has a market cap of $2.00 trillion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. The company’s revenue was up 13.5% on a year-over-year basis. As a group, research analysts anticipate that Alphabet Inc. will post 6.79 earnings per share 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.