Geneos Wealth Management Inc. Buys 1,203 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Geneos Wealth Management Inc. lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,569 shares of the information services provider’s stock after purchasing an additional 1,203 shares during the period. Geneos Wealth Management Inc.’s holdings in Alphabet were worth $6,785,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Bornite Capital Management LP bought a new position in Alphabet during the 1st quarter worth about $16,688,000. Markel Corp grew its holdings in Alphabet by 17.0% during the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after acquiring an additional 2,250 shares in the last quarter. United Bank grew its holdings in Alphabet by 5.9% during the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after acquiring an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after buying an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management lifted its position in shares of Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after buying an additional 1,570 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on GOOGL. Citigroup reissued a “buy” rating and set a $168.00 price target on shares of Alphabet in a research report on Wednesday, April 10th. StockNews.com raised shares of Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 20th. Needham & Company LLC reissued a “buy” rating and set a $160.00 price target on shares of Alphabet in a research report on Wednesday, January 31st. Redburn Atlantic increased their price target on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Finally, BMO Capital Markets reissued an “outperform” rating and set a $185.00 price target (up from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. Five analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $156.64.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold a total of 228,839 shares of company stock worth $32,835,757 in the last quarter. Company insiders own 0.88% of the company’s stock.

Alphabet Trading Down 0.3 %

Shares of GOOGL opened at $154.40 on Wednesday. Alphabet Inc. has a 52-week low of $102.63 and a 52-week high of $160.22. 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’s fifty day moving average is $145.76 and its two-hundred day moving average is $140.19. The stock has a market cap of $1.92 trillion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $70.77 billion. During the same quarter in the previous year, the company posted $1.05 EPS. Research analysts forecast that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Alphabet Company 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.