Park Edge Advisors LLC Acquires New Stake in Alphabet Inc. (NASDAQ:GOOGL)

Park Edge Advisors LLC bought a new position in Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,161 shares of the information services provider’s stock, valued at approximately $220,000.

A number of other institutional investors have also recently modified their holdings of the stock. Bennett Selby Investments LP raised its stake in shares of Alphabet by 4.0% in the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock worth $256,000 after buying an additional 52 shares during the period. Conrad Siegel Investment Advisors Inc. grew its stake in shares of Alphabet by 0.5% during the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock valued at $1,864,000 after acquiring an additional 53 shares during the period. Denver PWM LLC increased its holdings in Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares in the last quarter. Ignite Planners LLC raised its stake in Alphabet by 0.4% during the 4th quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider’s stock worth $2,892,000 after acquiring an additional 57 shares during the period. Finally, Fermata Advisors LLC lifted its holdings in Alphabet by 0.8% during the fourth quarter. Fermata Advisors LLC now owns 7,433 shares of the information services provider’s stock valued at $1,407,000 after purchasing an additional 57 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of GOOGL stock opened at $204.02 on Friday. The stock has a 50 day moving average price of $188.97 and a 200 day moving average price of $174.15. The firm has a market capitalization of $2.50 trillion, a P/E ratio of 27.06, a P/E/G ratio of 1.26 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $205.48.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the sale, the director now directly owns 21,824 shares of the company’s stock, valued at $4,142,195.20. This represents a 6.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the transaction, the chief accounting officer now owns 17,847 shares in the company, valued at approximately $3,468,029.04. The trade was a 13.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,630 shares of company stock worth $22,258,133. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 price objective (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Sanford C. Bernstein upped their price objective on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, Wolfe Research lifted their target price on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Nine investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.00.

About Alphabet

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.