ZRC Wealth Management LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

ZRC Wealth Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 109.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 28,939 shares of the information services provider’s stock after buying an additional 15,138 shares during the period. Alphabet comprises approximately 2.1% of ZRC Wealth Management LLC’s holdings, making the stock its 9th largest holding. ZRC Wealth Management LLC’s holdings in Alphabet were worth $3,787,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Oak Ridge Investments LLC boosted its position in Alphabet by 1.1% in the 4th quarter. Oak Ridge Investments LLC now owns 121,963 shares of the information services provider’s stock valued at $17,037,000 after buying an additional 1,319 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its position in shares of Alphabet by 133.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 70,199 shares of the information services provider’s stock worth $9,806,000 after purchasing an additional 40,183 shares during the last quarter. Exeter Financial LLC bought a new position in shares of Alphabet in the 4th quarter worth $280,000. Pacer Advisors Inc. boosted its position in shares of Alphabet by 3.0% in the 4th quarter. Pacer Advisors Inc. now owns 515,645 shares of the information services provider’s stock worth $72,030,000 after purchasing an additional 15,225 shares during the last quarter. Finally, Cowa LLC bought a new position in shares of Alphabet in the 4th quarter worth $227,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Up 0.4 %

Shares of NASDAQ:GOOGL opened at $150.67 on Wednesday. Alphabet Inc. has a 12-month low of $99.74 and a 12-month high of $153.78. The stock has a market cap of $1.87 trillion, a PE ratio of 25.98, a P/E/G ratio of 1.39 and a beta of 1.04. The business has a 50 day moving average of $143.17 and a 200-day moving average of $137.93. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter in the previous year, the company posted $1.05 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 6.77 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 425 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $139.61, for a total transaction of $59,334.25. Following the sale, the chief accounting officer now owns 27,259 shares of the company’s stock, valued at $3,805,628.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 425 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $139.61, for a total transaction of $59,334.25. Following the completion of the sale, the chief accounting officer now directly owns 27,259 shares in the company, valued at $3,805,628.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the sale, the chief executive officer now owns 2,310,191 shares of the company’s stock, valued at $343,710,216.98. The disclosure for this sale can be found here. Insiders have sold 279,659 shares of company stock valued at $39,460,310 over the last 90 days. 0.88% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on GOOGL. Truist Financial reduced their price target on Alphabet from $160.00 to $158.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Citigroup raised their price target on Alphabet from $153.00 to $168.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Wedbush raised their price target on Alphabet from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. KeyCorp lifted their target price on Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Finally, Mizuho lifted their target price on Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Five equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $155.48.

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.