Piershale Financial Group Inc. bought a new stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,060 shares of the information services provider’s stock, valued at approximately $94,000. Alphabet accounts for about 0.1% of Piershale Financial Group Inc.’s investment portfolio, making the stock its 21st biggest holding.
A number of other institutional investors have also recently bought and sold shares of the stock. Buttonwood Financial Advisors Inc. lifted its position in Alphabet by 1.8% during the fourth quarter. Buttonwood Financial Advisors Inc. now owns 57,822 shares of the information services provider’s stock valued at $5,102,000 after buying an additional 1,022 shares in the last quarter. StrategIQ Financial Group LLC lifted its position in Alphabet by 10.1% during the fourth quarter. StrategIQ Financial Group LLC now owns 6,890 shares of the information services provider’s stock valued at $608,000 after buying an additional 630 shares in the last quarter. Transform Wealth LLC lifted its position in Alphabet by 9.6% during the fourth quarter. Transform Wealth LLC now owns 143,878 shares of the information services provider’s stock valued at $12,694,000 after buying an additional 12,569 shares in the last quarter. RVW Wealth LLC lifted its position in Alphabet by 17.6% during the fourth quarter. RVW Wealth LLC now owns 6,093 shares of the information services provider’s stock valued at $538,000 after buying an additional 913 shares in the last quarter. Finally, Coerente Capital Management lifted its position in Alphabet by 0.8% during the fourth quarter. Coerente Capital Management now owns 310,955 shares of the information services provider’s stock valued at $27,435,000 after buying an additional 2,391 shares in the last quarter. 34.06% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Stock Performance
Alphabet stock opened at $105.44 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. The stock has a fifty day moving average price of $96.46 and a two-hundred day moving average price of $96.11. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $143.79. The firm has a market capitalization of $1.35 trillion, a P/E ratio of 23.17, a P/E/G ratio of 1.45 and a beta of 1.09.
Insider Activity
In related news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the sale, the director now directly owns 11,300 shares in the company, valued at $1,008,412. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ann Mather sold 380 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,008,412. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,245 shares of company stock worth $7,174,078. 11.44% of the stock is owned by corporate insiders.
Analyst Ratings Changes
GOOGL has been the topic of a number of recent research reports. Credit Suisse Group reduced their target price on shares of Alphabet from $145.00 to $136.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. Wells Fargo & Company upped their price target on shares of Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. MKM Partners upped their price target on shares of Alphabet from $120.00 to $126.00 in a research report on Friday, February 3rd. Barclays upped their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Finally, Bank of America upped their price target on shares of Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a report on Tuesday, January 31st. Four analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $131.83.
About Alphabet
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
Further Reading
- Get a free copy of the StockNews.com research report on Alphabet (GOOGL)
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