Element Wealth LLC Purchases 127 Shares of Alphabet Inc. (NASDAQ:GOOG)

Element Wealth LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.2% during the fourth quarter, Holdings Channel reports. The firm owned 3,128 shares of the information services provider’s stock after acquiring an additional 127 shares during the period. Element Wealth LLC’s holdings in Alphabet were worth $441,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GOOG. Tandem Wealth Advisors LLC purchased a new stake in Alphabet during the third quarter worth about $25,000. Bruce G. Allen Investments LLC purchased a new position in shares of Alphabet in the fourth quarter worth about $26,000. Equitec Proprietary Markets LLC purchased a new position in shares of Alphabet in the fourth quarter worth about $28,000. Buck Wealth Strategies LLC purchased a new position in shares of Alphabet in the third quarter worth about $32,000. Finally, Barometer Capital Management Inc. purchased a new position in shares of Alphabet in the third quarter worth about $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

GOOG stock opened at $161.10 on Thursday. 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 one year low of $103.27 and a one year high of $161.70. The stock has a market cap of $2.00 trillion, a PE ratio of 27.78, a P/E/G ratio of 1.47 and a beta of 1.05. The firm has a 50 day simple moving average of $148.20 and a two-hundred day simple moving average of $142.40.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $85.28 billion. During the same quarter in the prior year, the company earned $1.05 EPS. The firm’s revenue was up 13.5% on a year-over-year basis. On average, analysts predict that Alphabet Inc. will post 6.79 EPS for the current fiscal year.

Insider Activity

In other news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 230 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. 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. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOOG. Stifel Nicolaus lifted their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer boosted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Raymond James boosted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Finally, Susquehanna boosted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $159.86.

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.