Masso Torrence Wealth Management Inc. Acquires 593 Shares of Alphabet Inc. (NASDAQ:GOOG)

Masso Torrence Wealth Management Inc. raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,311 shares of the information services provider’s stock after acquiring an additional 593 shares during the period. Alphabet comprises approximately 2.2% of Masso Torrence Wealth Management Inc.’s portfolio, making the stock its 14th biggest holding. Masso Torrence Wealth Management Inc.’s holdings in Alphabet were worth $3,285,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tandem Wealth Advisors LLC purchased a new stake in shares of Alphabet during the third quarter valued at approximately $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $26,000. Equitec Proprietary Markets LLC purchased a new stake in Alphabet in the fourth quarter worth $28,000. Buck Wealth Strategies LLC purchased a new stake in Alphabet in the third quarter worth $32,000. Finally, Barometer Capital Management Inc. purchased a new stake in Alphabet in the third quarter worth $32,000. 27.26% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the sale, the director now directly owns 9,291 shares in the company, valued at approximately $1,296,187.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The stock was 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 $2,326,922.24. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GOOG has been the subject of a number of research analyst reports. Susquehanna raised their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus raised their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Raymond James raised their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Finally, Oppenheimer increased their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $159.86.

Alphabet Price Performance

GOOG opened at $161.10 on Thursday. The stock has a fifty day simple moving average of $148.20 and a two-hundred day simple moving average of $142.40. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.00 trillion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05. Alphabet Inc. has a 12-month low of $103.27 and a 12-month high of $161.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. During the same period last year, the company earned $1.05 earnings per share. The company’s revenue was up 13.5% on a year-over-year basis. Research analysts predict that Alphabet Inc. will post 6.79 earnings per share for the current fiscal year.

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.