Alliance Wealth Management Group Buys Shares of 1,780 Alphabet Inc. (NASDAQ:GOOGL)

Alliance Wealth Management Group acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,780 shares of the information services provider’s stock, valued at approximately $249,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bornite Capital Management LP acquired a new position in Alphabet during the first quarter worth about $16,688,000. Markel Corp lifted its stake in Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after buying an additional 2,250 shares in the last quarter. United Bank lifted its stake in Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after buying an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after acquiring an additional 61,427 shares during the period. Finally, Dakota Wealth Management lifted its position in shares of Alphabet by 20.4% in the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after acquiring an additional 1,570 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GOOGL. Citigroup upped their price target on shares of Alphabet from $153.00 to $168.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Truist Financial reduced their price target on shares of Alphabet from $160.00 to $158.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Mizuho upped their price target on shares of Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Rosenblatt Securities cut their target price on shares of Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Finally, JMP Securities increased their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Wednesday, January 31st. Five investment 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.39.

Get Our Latest Research Report on Alphabet

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total value of $3,198,150.00. Following the sale, the chief executive officer now directly owns 2,400,191 shares in the company, valued at approximately $341,163,148.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total value of $3,198,150.00. Following the sale, the chief executive officer now directly owns 2,400,191 shares in the company, valued at approximately $341,163,148.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $143.49, for a total transaction of $28,698.00. Following the completion of the sale, the director now owns 6,784 shares in the company, valued at $973,436.16. The disclosure for this sale can be found here. Insiders have sold 228,239 shares of company stock worth $32,432,382 in the last ninety days. Insiders own 0.88% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $154.92 on Thursday. Alphabet Inc. has a 1 year low of $102.63 and a 1 year high of $155.74. The firm’s fifty day simple moving average is $144.22 and its 200 day simple moving average is $138.70. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.93 trillion, a PE ratio of 26.71, a PEG ratio of 1.44 and a beta of 1.05.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same period last year, the business posted $1.05 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 6.77 EPS for the current year.

Alphabet Company Profile

(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.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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