Turtle Creek Wealth Advisors LLC Invests $1.80 Million in Alphabet Inc. (NASDAQ:GOOGL)

Turtle Creek Wealth Advisors LLC bought a new position in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,898 shares of the information services provider’s stock, valued at approximately $1,802,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Spreng Capital Management Inc. increased its position in Alphabet by 4.0% in the 1st 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. increased its position in Alphabet by 0.3% in 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 acquiring an additional 6 shares in the last quarter. Maple Capital Management Inc. increased its position in Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after acquiring an additional 6 shares in the last quarter. Private Advisory Group LLC increased its position in Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after acquiring an additional 7 shares in the last quarter. Finally, Weik Capital Management grew its position in shares of Alphabet by 0.5% during the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after buying an additional 8 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wolfe Research lifted their price target on shares of Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. JMP Securities reiterated a “market outperform” rating and set a $160.00 price target on shares of Alphabet in a research report on Wednesday, April 10th. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price target on shares of Alphabet in a research report on Wednesday, January 31st. KeyCorp lifted their price target on shares of Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $155.00 price target on shares of Alphabet in a research report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.61.

Insider Activity

In other news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the transaction, the chief executive officer now owns 2,400,191 shares in the company, valued at $341,163,148.74. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock worth $36,033,907 over the last ninety days. Insiders own 0.88% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $154.86 on Tuesday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $102.63 and a 12-month high of $160.22. The company has a market capitalization of $1.93 trillion, a PE ratio of 26.70, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05. The firm’s 50 day moving average is $145.55 and its 200-day moving average is $140.02.

Alphabet (NASDAQ:GOOGL) last posted 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 for the quarter, compared to the consensus estimate of $70.77 billion. During the same period last year, the company earned $1.05 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 6.78 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.