ForthRight Wealth Management LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

ForthRight Wealth Management LLC bought a new position in Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,196 shares of the information services provider’s stock, valued at approximately $226,000.

Several other hedge funds have also recently modified their holdings of GOOGL. Conrad Siegel Investment Advisors Inc. grew its stake in shares of Alphabet by 0.5% during the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock valued at $1,864,000 after acquiring an additional 53 shares in the last quarter. Denver PWM LLC grew its stake in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares in the last quarter. Ignite Planners LLC increased its holdings in Alphabet by 0.4% during the 4th quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider’s stock worth $2,892,000 after purchasing an additional 57 shares during the last quarter. Fermata Advisors LLC raised its position in shares of Alphabet by 0.8% in the 4th quarter. Fermata Advisors LLC now owns 7,433 shares of the information services provider’s stock valued at $1,407,000 after purchasing an additional 57 shares in the last quarter. Finally, Winch Advisory Services LLC boosted its stake in shares of Alphabet by 1.3% during the 4th quarter. Winch Advisory Services LLC now owns 4,386 shares of the information services provider’s stock valued at $830,000 after buying an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 4.2 %

Shares of NASDAQ GOOGL opened at $191.81 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a one year low of $130.66 and a one year high of $202.29. The business has a 50-day moving average price of $186.46 and a two-hundred day moving average price of $173.57. The firm has a market capitalization of $2.35 trillion, a PE ratio of 25.44, a PEG ratio of 1.27 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the company posted $1.55 earnings per share. As a group, analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOOGL. Roth Mkm boosted their target price on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wolfe Research upped their price objective on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Loop Capital increased their target price on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, JMP Securities restated a “market perform” rating on shares of Alphabet in a research note on Monday. Nine research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $209.82.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the sale, the director now directly owns 21,824 shares of the company’s stock, valued at $4,142,195.20. The trade was a 6.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total transaction of $550,702.88. Following the transaction, the chief accounting officer now owns 17,847 shares in the company, valued at $3,468,029.04. This represents a 13.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock worth $24,368,654 in the last quarter. 11.55% of the stock is currently owned by corporate insiders.

Alphabet 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.