Abundance Wealth Counselors Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

Abundance Wealth Counselors grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,217 shares of the information services provider’s stock after purchasing an additional 448 shares during the quarter. Alphabet makes up about 1.2% of Abundance Wealth Counselors’ investment portfolio, making the stock its 15th biggest position. Abundance Wealth Counselors’ holdings in Alphabet were worth $4,640,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. DC Investments Management LLC purchased a new position in shares of Alphabet in the 1st quarter worth $114,000. Bridgefront Capital LLC purchased a new position in shares of Alphabet in the 1st quarter worth $225,000. Worth Asset Management LLC purchased a new position in shares of Alphabet in the 1st quarter worth $206,000. Eudaimonia Advisors LLC raised 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 worth $275,000 after buying an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC purchased a new position in shares of Alphabet in the 1st quarter worth $281,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 500 shares of Alphabet stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $149.50, for a total value of $74,750.00. Following the sale, the director now directly owns 8,791 shares in the company, valued at approximately $1,314,254.50. The disclosure for this sale can be found here. Insiders have sold 251,378 shares of company stock valued at $35,461,377 over the last quarter. Insiders own 0.88% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $150.87 on Thursday. 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 firm’s 50-day moving average price is $143.33 and its two-hundred day moving average price is $138.03. Alphabet Inc. has a 52-week low of $99.74 and a 52-week high of $153.78. The stock has a market capitalization of $1.88 trillion, a P/E ratio of 26.01, a P/E/G ratio of 1.39 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter last year, the company posted $1.05 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 6.77 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GOOGL shares. Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Roth Mkm lowered their price target on Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Wolfe Research increased their price target on Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. KeyCorp increased their price target on Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Finally, BMO Capital Markets increased their price target on Alphabet from $170.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $155.48.

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.