Heirloom Wealth Management Buys New Position in Alphabet Inc. (NASDAQ:GOOGL)

Heirloom Wealth Management acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,197 shares of the information services provider’s stock, valued at approximately $605,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Schear Investment Advisers LLC boosted its position in Alphabet by 17.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after purchasing an additional 4,905 shares during the period. Trinity Financial Advisors LLC lifted its position in shares of Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after acquiring an additional 190 shares during the last quarter. Landscape Capital Management L.L.C. grew its holdings in shares of Alphabet by 27.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after acquiring an additional 5,516 shares during the last quarter. abrdn plc raised its position in shares of Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after purchasing an additional 611,233 shares during the period. Finally, StoneCrest Wealth Management Inc. boosted its holdings in shares of Alphabet by 0.7% in the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after buying an additional 140 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Morgan Stanley increased their price target on shares of Alphabet from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Pivotal Research increased 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. Cantor Fitzgerald lowered their price objective on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Wells Fargo & Company lifted their price target on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Nine analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.00.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. This represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 122,529 shares of company stock worth $22,453,483. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Down 1.4 %

Shares of Alphabet stock opened at $201.23 on Tuesday. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $205.48. The stock has a market cap of $2.46 trillion, a P/E ratio of 26.69, a P/E/G ratio of 1.31 and a beta of 0.99. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $188.97 and its 200-day moving average is $174.03.

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.