Echo45 Advisors LLC Buys 185 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Echo45 Advisors LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,463 shares of the information services provider’s stock after buying an additional 185 shares during the quarter. Alphabet comprises 0.7% of Echo45 Advisors LLC’s holdings, making the stock its 19th biggest position. Echo45 Advisors LLC’s holdings in Alphabet were worth $903,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOGL. Chico Wealth RIA acquired a new stake in shares of Alphabet during the third quarter worth $330,000. Summit Global Investments raised its stake in Alphabet by 67.7% in the third quarter. Summit Global Investments now owns 241,463 shares of the information services provider’s stock valued at $31,598,000 after purchasing an additional 97,466 shares in the last quarter. Prentice Wealth Management LLC raised its stake in Alphabet by 18.1% in the third quarter. Prentice Wealth Management LLC now owns 7,140 shares of the information services provider’s stock valued at $934,000 after purchasing an additional 1,096 shares in the last quarter. Sunflower Bank N.A. raised its stake in Alphabet by 6.3% in the third quarter. Sunflower Bank N.A. now owns 5,951 shares of the information services provider’s stock valued at $779,000 after purchasing an additional 353 shares in the last quarter. Finally, David J Yvars Group raised its stake in Alphabet by 10.3% in the third quarter. David J Yvars Group now owns 4,170 shares of the information services provider’s stock valued at $546,000 after purchasing an additional 390 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 230 shares of the 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 sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 253,439 shares of company stock worth $36,746,578. 0.88% of the stock is owned by company insiders.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent analyst reports. Susquehanna lifted their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Mizuho lifted their target price on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday. Oppenheimer lifted their target price on Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday. KeyCorp boosted their price target on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Finally, Rosenblatt Securities boosted their price target on Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $187.82.

Alphabet Stock Up 10.2 %

GOOGL stock opened at $171.95 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The company has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 29.65, a PEG ratio of 1.47 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $103.54 and a fifty-two week high of $174.71. The stock has a fifty day moving average of $147.85 and a 200-day moving average of $141.39.

Alphabet (NASDAQ:GOOGL) last posted 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 company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter in the prior year, the company earned $1.05 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current 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.