Kellett Wealth Advisors LLC Takes $203,000 Position in Alphabet Inc. (NASDAQ:GOOG)

Kellett Wealth Advisors LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,440 shares of the information services provider’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Moneta Group Investment Advisors LLC lifted its position in Alphabet by 61,587.1% during 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 in the last quarter. FMR LLC increased its position 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 valued at $15,852,868,000 after acquiring an additional 4,348,188 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Alphabet by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after acquiring an additional 9,703,425 shares in the last quarter. Morgan Stanley boosted its position in Alphabet by 37.6% during the fourth 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 last quarter. Finally, Northern Trust Corp grew its stake in Alphabet by 2.3% in the third quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after purchasing an additional 1,275,060 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GOOG shares. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Oppenheimer boosted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Raymond James raised their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Stifel Nicolaus boosted their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Susquehanna raised their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $159.86.

Alphabet Price Performance

Alphabet stock opened at $155.72 on Friday. The company has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.44 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $103.27 and a 12 month high of $161.70. The stock’s 50 day moving average is $147.46 and its 200-day moving average is $141.93.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data 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 analyst estimates of $85.28 billion. During the same period in the prior year, the firm posted $1.05 EPS. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities research analysts expect that Alphabet Inc. will post 6.78 EPS for the current year.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. 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. 12.99% of the stock is owned by company insiders.

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.