Opal Wealth Advisors LLC Acquires 473 Shares of Alphabet Inc. (NASDAQ:GOOG)

Opal Wealth Advisors LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 8.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,959 shares of the information services provider’s stock after buying an additional 473 shares during the quarter. Opal Wealth Advisors LLC’s holdings in Alphabet were worth $840,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC grew its stake in Alphabet by 61,587.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after buying an additional 129,835,437 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Alphabet by 1,807.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock valued at $5,487,226,000 after purchasing an additional 54,077,519 shares during the period. Norges Bank acquired a new stake in Alphabet in the 4th quarter valued at approximately $3,059,614,000. Morgan Stanley grew its stake in shares of Alphabet by 37.6% in the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after acquiring an additional 19,612,974 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Raymond James boosted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Susquehanna upped their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $146.33.

Get Our Latest Stock Analysis on Alphabet

Alphabet Stock Performance

NASDAQ:GOOG opened at $156.50 on Tuesday. Alphabet Inc. has a 12-month low of $102.38 and a 12-month high of $157.00. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $144.98 and a 200 day moving average price of $139.62. The firm has a market capitalization of $1.95 trillion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $85.28 billion. During the same period in the prior year, the business posted $1.05 earnings per share. The business’s revenue was up 13.5% compared to the same quarter last year. Research analysts anticipate that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $143.49, for a total transaction of $28,698.00. Following the completion of the transaction, the director now owns 6,784 shares of the company’s stock, valued at approximately $973,436.16. The disclosure for this sale can be found here. Insiders have sold 246,799 shares of company stock valued at $34,971,139 in the last three months. 12.99% of the stock is owned by corporate insiders.

About Alphabet

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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