Phoenix Wealth Advisors Buys 145 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Phoenix Wealth Advisors raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,665 shares of the information services provider’s stock after buying an additional 145 shares during the quarter. Phoenix Wealth Advisors’ holdings in Alphabet were worth $368,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Meritage Group LP increased its holdings in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares in the last quarter. Macroview Investment Management LLC boosted its position in Alphabet by 165.8% during the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after acquiring an additional 199 shares during the last quarter. Armor Investment Advisors LLC raised its holdings in shares of Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new position in Alphabet during the fourth quarter worth $55,000. Finally, LFA Lugano Financial Advisors SA increased its stake in Alphabet by 301.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock valued at $73,000 after buying an additional 392 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 0.5 %

Shares of NASDAQ GOOGL opened at $159.13 on Thursday. 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 cap of $1.98 trillion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The company has a 50 day simple moving average of $146.96 and a 200 day simple moving average of $141.06.

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 net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 6.78 EPS for the current year.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s 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 directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The disclosure for this sale can be found here. In the last 90 days, insiders sold 251,339 shares of company stock valued at $36,377,482. 0.88% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 target price on shares of Alphabet in a research report on Wednesday, April 10th. Rosenblatt Securities decreased their target price on shares of Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Truist Financial upped their price target on shares of Alphabet from $158.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $155.00 target price on shares of Alphabet in a research note on Wednesday, January 31st. Finally, Redburn Atlantic upped their price objective 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-eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $158.71.

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.