SFG Wealth Management LLC. boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 29.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,840 shares of the information services provider’s stock after purchasing an additional 2,000 shares during the quarter. Alphabet comprises 1.0% of SFG Wealth Management LLC.’s investment portfolio, making the stock its 24th largest holding. SFG Wealth Management LLC.’s holdings in Alphabet were worth $780,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bornite Capital Management LP purchased a new position in Alphabet during the 1st quarter worth $16,688,000. Markel Corp grew its stake in shares of Alphabet by 17.0% during the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank grew its stake in shares of Alphabet by 5.9% during the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after purchasing an additional 61,427 shares during the period. Finally, Dakota Wealth Management grew its stake in shares of Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after purchasing an additional 1,570 shares during the period. Hedge funds and other institutional investors own 34.06% of the company’s stock.
Alphabet Trading Up 0.1 %
GOOGL opened at $105.41 on Friday. The firm has a market capitalization of $1.35 trillion, a P/E ratio of 23.16, a P/E/G ratio of 1.46 and a beta of 1.10. The firm’s 50 day moving average is $99.15 and its 200-day moving average is $96.44. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $125.40. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the stock. Barclays upped their price target on shares of Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. KeyCorp lowered their price target on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a research note on Monday, January 30th. Bank of America upped their price target on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. New Street Research started coverage on shares of Alphabet in a research note on Wednesday, January 4th. They set a “buy” rating and a $118.00 price target on the stock. Finally, BNP Paribas raised shares of Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price objective on the stock in a research note on Friday, March 17th. Four research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.30.
Insiders Place Their Bets
In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the transaction, the senior vice president now owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Alphabet news, insider John Kent Walker sold 29,006 shares of the firm’s stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total value of $2,953,971.04. Following the sale, the insider now directly owns 24,277 shares in the company, valued at $2,472,369.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the sale, the senior vice president now owns 76,580 shares in the company, valued at $7,922,966.80. The disclosure for this sale can be found here. Insiders sold a total of 112,192 shares of company stock valued at $11,373,417 over the last 90 days. 11.44% of the stock is owned by company insiders.
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.
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