StoneCrest Wealth Management Inc. Invests $1.01 Million in Alphabet Inc. (NASDAQ:GOOG)

StoneCrest Wealth Management Inc. acquired a new position in Alphabet Inc. (NASDAQ:GOOGFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,164 shares of the information services provider’s stock, valued at approximately $1,010,000. Alphabet accounts for approximately 1.0% of StoneCrest Wealth Management Inc.’s holdings, making the stock its 25th biggest holding.

Several other institutional investors have also recently made changes to their positions in the stock. Essex Savings Bank raised its stake in shares of Alphabet by 7.6% in the fourth quarter. Essex Savings Bank now owns 33,205 shares of the information services provider’s stock worth $4,680,000 after buying an additional 2,349 shares during the period. Parsons Capital Management Inc. RI raised its stake in Alphabet by 3.2% during the 4th quarter. Parsons Capital Management Inc. RI now owns 55,612 shares of the information services provider’s stock valued at $7,837,000 after purchasing an additional 1,746 shares during the period. Alta Capital Management LLC raised its stake in Alphabet by 354.0% during the 4th quarter. Alta Capital Management LLC now owns 25,650 shares of the information services provider’s stock valued at $3,615,000 after purchasing an additional 20,000 shares during the period. Retirement Guys Formula LLC raised its stake in Alphabet by 11.6% during the 4th quarter. Retirement Guys Formula LLC now owns 7,945 shares of the information services provider’s stock valued at $1,120,000 after purchasing an additional 827 shares during the period. Finally, apricus wealth LLC raised its stake in Alphabet by 2.1% during the 4th quarter. apricus wealth LLC now owns 7,265 shares of the information services provider’s stock valued at $1,024,000 after purchasing an additional 150 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold a total of 228,239 shares of company stock valued at $32,432,382 in the last quarter. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

NASDAQ:GOOG opened at $155.87 on Wednesday. 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 Inc. has a 1 year low of $102.38 and a 1 year high of $157.00. The stock’s 50 day simple moving average is $145.15 and its two-hundred day simple moving average is $139.74. The company has a market cap of $1.94 trillion, a price-to-earnings ratio of 26.87, a PEG ratio of 1.41 and a beta of 1.05.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings data 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 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 the consensus estimate of $85.28 billion. During the same quarter in the previous year, the company posted $1.05 EPS. The company’s revenue was up 13.5% compared to the same quarter last year. As a group, equities analysts anticipate that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on GOOG. Raymond James lifted their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna lifted their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $146.33.

Read Our Latest Analysis on Alphabet

Alphabet Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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