Simplicity Wealth LLC Acquires Shares of 4,344 Alphabet Inc. (NASDAQ:GOOG)

Simplicity Wealth LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,344 shares of the information services provider’s stock, valued at approximately $612,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Veracity Capital LLC grew its position in Alphabet by 12.4% in the 4th quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after buying an additional 1,173 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in Alphabet by 25.3% in the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after acquiring an additional 1,230 shares during the period. Washington Trust Bank lifted its holdings in Alphabet by 33.0% in the third quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock valued at $970,000 after acquiring an additional 1,826 shares during the period. CNB Bank lifted its holdings in Alphabet by 6.6% in the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock valued at $3,655,000 after acquiring an additional 1,710 shares during the period. Finally, Sloy Dahl & Holst LLC lifted its holdings in Alphabet by 1.9% in the third quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock valued at $1,086,000 after acquiring an additional 155 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of recent analyst reports. Oppenheimer raised their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Raymond James lifted their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Finally, Susquehanna lifted their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $157.50.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the completion of the sale, the chief executive officer now owns 2,400,191 shares in the company, valued at approximately $341,163,148.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction that occurred 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 approximately $243,854,485.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $341,163,148.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 251,339 shares of company stock worth $36,033,907. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Down 1.8 %

GOOG opened at $156.33 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The stock has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05. The business has a 50-day moving average of $146.73 and a two-hundred day moving average of $141.34. Alphabet Inc. has a 12 month low of $103.27 and a 12 month high of $161.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $85.28 billion. During the same quarter in the previous year, the business earned $1.05 EPS. The firm’s revenue was up 13.5% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current 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.