Altus Wealth Group LLC Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Altus Wealth Group LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,743 shares of the information services provider’s stock after purchasing an additional 176 shares during the period. Alphabet comprises 1.0% of Altus Wealth Group LLC’s holdings, making the stock its 20th biggest position. Altus Wealth Group LLC’s holdings in Alphabet were worth $1,780,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. DC Investments Management LLC purchased a new stake in Alphabet during the first quarter valued at approximately $114,000. Bridgefront Capital LLC purchased a new stake in Alphabet during the first quarter valued at approximately $225,000. Worth Asset Management LLC purchased a new stake in Alphabet during the first quarter valued at approximately $206,000. Eudaimonia Advisors LLC lifted its position in Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC purchased a new stake in Alphabet during the first quarter valued at approximately $281,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $154.09 on Friday. 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 company has a market cap of $1.92 trillion, a price-to-earnings ratio of 26.57, a PEG ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a 52-week low of $102.63 and a 52-week high of $160.22. The firm’s fifty day simple moving average is $146.26 and its two-hundred day simple moving average is $140.60.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period last year, the firm posted $1.05 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research analyst reports. Mizuho raised their price target on shares of Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Wolfe Research raised their price target on shares of Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Canaccord Genuity Group raised their price target on shares of Alphabet from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup reaffirmed a “buy” rating and issued a $168.00 price target on shares of Alphabet in a report on Wednesday, April 10th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Alphabet in a report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $158.41.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,339 shares of company stock valued at $36,377,482. Corporate insiders own 0.88% of the company’s stock.

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.