Priebe Wealth Holdings LLC Invests $638,000 in Alphabet Inc. (NASDAQ:GOOG)

Priebe Wealth Holdings LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,528 shares of the information services provider’s stock, valued at approximately $638,000. Alphabet makes up approximately 0.5% of Priebe Wealth Holdings LLC’s investment portfolio, making the stock its 29th biggest position.

Several other hedge funds have also made changes to their positions in GOOG. Tandem Wealth Advisors LLC acquired a new stake in shares of Alphabet in the third quarter valued at approximately $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $26,000. HWG Holdings LP acquired a new stake in shares of Alphabet in the second quarter valued at approximately $26,000. Buck Wealth Strategies LLC acquired a new stake in shares of Alphabet in the third quarter valued at approximately $32,000. Finally, Barometer Capital Management Inc. acquired a new stake in shares of Alphabet in the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GOOG. Raymond James increased their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday. Susquehanna increased their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Finally, Oppenheimer increased their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $157.50.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $142.14, for a total value of $3,198,150.00. Following the completion of the transaction, the chief executive officer now owns 2,400,191 shares in the company, valued at $341,163,148.74. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was 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 owns 1,777,106 shares in the company, valued at $243,854,485.32. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 completion of the transaction, the chief executive officer now owns 2,400,191 shares of the company’s stock, valued at approximately $341,163,148.74. The disclosure for this sale can be found here. Insiders sold a total of 250,539 shares of company stock worth $35,906,259 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Alphabet stock opened at $159.19 on Friday. Alphabet Inc. has a one year low of $103.27 and a one year high of $161.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The business has a fifty day moving average of $146.51 and a two-hundred day moving average of $141.11. The company has a market cap of $1.98 trillion, a P/E ratio of 27.45, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. During the same quarter last year, the company earned $1.05 earnings per share. Alphabet’s quarterly revenue was up 13.5% compared to the same quarter last year. As a group, analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Alphabet Profile

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.