Triton Wealth Management PLLC Invests $485,000 in Alphabet Inc. (NASDAQ:GOOGL)

Triton Wealth Management PLLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,542 shares of the information services provider’s stock, valued at approximately $485,000.

Several other institutional investors and hedge funds have also made changes to their positions in GOOGL. DC Investments Management LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at about $114,000. Bridgefront Capital LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at about $225,000. Worth Asset Management LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at about $206,000. Eudaimonia Advisors LLC boosted its position in shares of Alphabet by 15.1% in the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at about $281,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

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 transaction of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of Alphabet 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 owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold 250,539 shares of company stock worth $35,906,259 over the last quarter. 0.88% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOOGL. Susquehanna upped their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 price objective on shares of Alphabet in a research note on Wednesday. Wells Fargo & Company reduced their price objective on Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 3rd. Mizuho upped their price objective on Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 price objective on shares of Alphabet in a research note on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $155.61.

Alphabet Stock Performance

NASDAQ GOOGL opened at $157.73 on Friday. Alphabet Inc. has a 1-year low of $102.63 and a 1-year high of $160.22. The company has a market capitalization of $1.96 trillion, a P/E ratio of 27.19, a PEG ratio of 1.47 and a beta of 1.05. The business has a 50 day moving average price of $145.33 and a 200 day moving average price of $139.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last announced 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 firm had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter in the prior year, the firm earned $1.05 EPS. Sell-side analysts expect that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

About Alphabet

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.