Powers Advisory Group LLC Grows Stake in Alphabet Inc. (NASDAQ:GOOGL)

Powers Advisory Group LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,622 shares of the information services provider’s stock after acquiring an additional 146 shares during the period. Powers Advisory Group LLC’s holdings in Alphabet were worth $506,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Vanguard Group Inc. lifted its holdings in Alphabet by 0.3% in the third quarter. Vanguard Group Inc. now owns 487,435,495 shares of the information services provider’s stock valued at $63,785,809,000 after acquiring an additional 1,302,104 shares during the period. FMR LLC raised its position in shares of Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after purchasing an additional 12,070,681 shares during the period. State Street Corp lifted its position in shares of Alphabet by 0.8% in the second quarter. State Street Corp now owns 218,540,033 shares of the information services provider’s stock valued at $26,159,242,000 after acquiring an additional 1,666,205 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of Alphabet by 111,197.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after purchasing an additional 170,267,122 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Alphabet by 2.3% during the second quarter. Geode Capital Management LLC now owns 121,308,289 shares of the information services provider’s stock worth $14,481,781,000 after purchasing an additional 2,731,671 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Price Performance

Shares of Alphabet stock opened at $150.87 on Thursday. The business has a 50 day simple moving average of $143.33 and a two-hundred day simple moving average of $138.03. Alphabet Inc. has a 12 month low of $99.74 and a 12 month high of $153.78. The stock has a market capitalization of $1.88 trillion, a P/E ratio of 26.01, a PEG ratio of 1.39 and a beta of 1.04. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping 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 analyst estimates of $70.77 billion. During the same period in the prior year, the business posted $1.05 earnings per share. As a group, analysts predict that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Alphabet news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the sale, the chief executive officer now owns 2,310,191 shares in the company, valued at $343,710,216.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 251,378 shares of company stock worth $35,461,377. Company insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GOOGL shares. Susquehanna increased their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Mizuho lifted their target price on Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Wolfe Research increased their price target on Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Citigroup increased their price target on Alphabet from $153.00 to $168.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Finally, Redburn Atlantic increased their price target on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $155.48.

About Alphabet

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.