Waterfront Wealth Inc. Purchases 615 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Waterfront Wealth Inc. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,582 shares of the information services provider’s stock after purchasing an additional 615 shares during the period. Alphabet comprises 1.1% of Waterfront Wealth Inc.’s holdings, making the stock its 22nd biggest holding. Waterfront Wealth Inc.’s holdings in Alphabet were worth $3,853,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its stake in Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after purchasing an additional 12,070,681 shares during the period. International Assets Investment Management LLC increased its stake in Alphabet by 4,894.1% in the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after buying an additional 5,336,359 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Alphabet during the 3rd quarter valued at about $634,465,000. Ontario Teachers Pension Plan Board purchased a new stake in Alphabet in the 3rd quarter valued at about $601,545,000. Finally, Lone Pine Capital LLC bought a new position in Alphabet in the 3rd quarter worth about $407,367,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 251,339 shares of company stock valued at $36,377,482. 0.88% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 price target on shares of Alphabet in a research note on Wednesday, January 31st. Susquehanna upped their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Roth Mkm cut their price target on Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Wolfe Research upped their price objective on shares of Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Finally, JMP Securities reissued a “market outperform” rating and set a $160.00 target price on shares of Alphabet in a research report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $158.71.

Alphabet Stock Performance

Shares of GOOGL stock opened at $156.00 on Friday. The business has a fifty day moving average of $147.22 and a 200 day moving average of $141.16. Alphabet Inc. has a 1 year low of $102.63 and a 1 year high of $160.22. 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 firm has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share 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 business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same period in the prior year, the company earned $1.05 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current year.

Alphabet Company 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.