Nova R Wealth Inc. Acquires New Shares in Alphabet Inc. (NASDAQ:GOOGL)

Nova R Wealth Inc. acquired a new position in Alphabet Inc. (NASDAQ:GOOGLFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,802 shares of the information services provider’s stock, valued at approximately $391,000.

A number of other institutional investors have also added to or reduced their stakes in GOOGL. Spreng Capital Management Inc. lifted its position in shares of Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after acquiring an additional 5 shares in the last quarter. West Family Investments Inc. raised its stake in Alphabet by 0.3% during the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after purchasing an additional 6 shares during the period. Maple Capital Management Inc. lifted its holdings in Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after purchasing an additional 6 shares in the last quarter. Private Advisory Group LLC boosted its stake in Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after purchasing an additional 7 shares during the period. Finally, Weik Capital Management grew its holdings in Alphabet by 0.5% during the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after buying an additional 8 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

GOOGL stock opened at $154.56 on Wednesday. Alphabet Inc. has a 1-year low of $101.93 and a 1-year high of $155.74. The business has a 50-day moving average price of $143.95 and a 200 day moving average price of $138.46. The company has a market capitalization of $1.92 trillion, a P/E ratio of 26.65, a PEG ratio of 1.39 and a beta of 1.05. 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 (NASDAQ:GOOGLGet 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, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same quarter in the prior year, the company earned $1.05 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research analyst reports. Susquehanna boosted their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Roth Mkm decreased their price target on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Redburn Atlantic raised their price objective on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Wells Fargo & Company boosted their target price on Alphabet from $141.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Monday, March 18th. Finally, StockNews.com upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 20th. Five analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $155.48.

Read Our Latest Report on GOOGL

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Alphabet news, insider John Kent Walker sold 48,076 shares of Alphabet stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $142.20, for a total value of $6,836,407.20. Following the transaction, the insider now directly owns 12,725 shares of the company’s stock, valued at $1,809,495. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders sold a total of 228,239 shares of company stock worth $32,432,382 over the last 90 days. Company insiders own 0.88% of the company’s stock.

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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