Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by MinichMacGregor Wealth Management LLC

MinichMacGregor Wealth Management LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 35.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,298 shares of the information services provider’s stock after acquiring an additional 870 shares during the period. MinichMacGregor Wealth Management LLC’s holdings in Alphabet were worth $624,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Raleigh Capital Management Inc. boosted its stake in Alphabet by 3.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 17,368 shares of the information services provider’s stock valued at $3,288,000 after buying an additional 498 shares in the last quarter. D.B. Root & Company LLC boosted its position in shares of Alphabet by 3.8% during the 4th quarter. D.B. Root & Company LLC now owns 14,688 shares of the information services provider’s stock valued at $2,780,000 after purchasing an additional 542 shares in the last quarter. Echo45 Advisors LLC grew its stake in shares of Alphabet by 3.4% in the 4th quarter. Echo45 Advisors LLC now owns 4,600 shares of the information services provider’s stock worth $882,000 after purchasing an additional 150 shares during the last quarter. Olistico Wealth LLC raised its holdings in shares of Alphabet by 9.1% in the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock worth $1,700,000 after purchasing an additional 746 shares in the last quarter. Finally, Wendell David Associates Inc. lifted its stake in Alphabet by 4.4% during the fourth quarter. Wendell David Associates Inc. now owns 116,517 shares of the information services provider’s stock valued at $22,057,000 after purchasing an additional 4,877 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Up 1.8 %

Shares of GOOGL stock opened at $195.30 on Wednesday. The business’s 50 day moving average is $186.79 and its two-hundred day moving average is $173.61. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $202.29. The company has a market cap of $2.39 trillion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates 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 business posted $1.55 EPS. Equities analysts predict that Alphabet Inc. will post 8.02 EPS for the current year.

Wall Street Analyst Weigh In

GOOGL has been the topic of several research reports. Pivotal Research upped their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Royal Bank of Canada lifted their price target on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $217.00 target price (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $209.82.

Insider Activity

In other news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the sale, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 122,887 shares of company stock valued at $22,470,464. 11.55% of the stock is owned by insiders.

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.