Market Street Wealth Management Advisors LLC Acquires 408 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Market Street Wealth Management Advisors LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,226 shares of the information services provider’s stock after buying an additional 408 shares during the period. Market Street Wealth Management Advisors LLC’s holdings in Alphabet were worth $800,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. LMR Partners LLP purchased a new stake in Alphabet during the third quarter valued at approximately $32,000. Denver PWM LLC raised its position in Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares during the period. Quarry LP purchased a new stake in Alphabet during the second quarter valued at approximately $53,000. Teachers Insurance & Annuity Association of America purchased a new stake in Alphabet during the third quarter valued at approximately $66,000. Finally, Mendota Financial Group LLC raised its position in Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after purchasing an additional 64 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Loop Capital increased their price target on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Sanford C. Bernstein increased their price target on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Finally, Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $209.82.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares in the company, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the transaction, the chief executive officer now owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,887 shares of company stock valued at $22,470,464 in the last quarter. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 1.8 %

Alphabet stock opened at $195.30 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market capitalization of $2.39 trillion, a price-to-earnings ratio of 25.90, a PEG ratio of 1.27 and a beta of 0.98. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $202.29. The business has a fifty day moving average price of $186.79 and a 200-day moving average price of $173.61.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the firm earned $1.55 EPS. Equities research analysts forecast that Alphabet Inc. will post 8.02 EPS 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.