Activest Wealth Management Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Activest Wealth Management boosted its position in Alphabet Inc. (NASDAQ:GOOGFree Report) by 42.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,483 shares of the information services provider’s stock after buying an additional 1,045 shares during the quarter. Activest Wealth Management’s holdings in Alphabet were worth $491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in GOOG. Moneta Group Investment Advisors LLC boosted its holdings in Alphabet by 61,587.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after buying an additional 129,835,437 shares during the period. FMR LLC boosted its holdings in shares of Alphabet by 3.8% in the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after acquiring an additional 4,348,188 shares during the period. JPMorgan Chase & Co. grew its position in shares of Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares in the last quarter. Morgan Stanley raised its stake in shares of Alphabet by 37.6% during the 4th quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock valued at $6,368,961,000 after purchasing an additional 19,612,974 shares during the period. Finally, Northern Trust Corp lifted its holdings in Alphabet by 2.3% during the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock worth $7,550,942,000 after purchasing an additional 1,275,060 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Raymond James lifted their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Susquehanna boosted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $146.33.

Check Out Our Latest Stock Report on Alphabet

Insider Activity

In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on Friday, March 8th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 6,784 shares in the company, valued at $973,436.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 263,312 shares of company stock worth $37,268,315. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $152.26 on Friday. The firm has a market capitalization of $1.89 trillion, a P/E ratio of 26.25, a P/E/G ratio of 1.41 and a beta of 1.05. 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 stock’s 50-day simple moving average is $144.98 and its two-hundred day simple moving average is $139.58. Alphabet Inc. has a twelve month low of $100.29 and a twelve month high of $155.20.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its earnings results 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 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 the consensus estimate of $85.28 billion. During the same period last year, the firm posted $1.05 earnings per share. Alphabet’s quarterly revenue was up 13.5% on a year-over-year basis. As a group, equities analysts anticipate that Alphabet Inc. will post 6.77 EPS for the current fiscal 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.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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