Novare Capital Management LLC Acquires 2,792 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Novare Capital Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 180,865 shares of the information services provider’s stock after buying an additional 2,792 shares during the period. Alphabet accounts for about 2.9% of Novare Capital Management LLC’s investment portfolio, making the stock its 6th biggest holding. Novare Capital Management LLC’s holdings in Alphabet were worth $34,238,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Navis Wealth Advisors LLC grew its holdings in Alphabet by 2.8% in the fourth quarter. Navis Wealth Advisors LLC now owns 2,371 shares of the information services provider’s stock worth $449,000 after purchasing an additional 65 shares during the period. M3 Advisory Group LLC grew its stake in shares of Alphabet by 0.4% in the 4th quarter. M3 Advisory Group LLC now owns 20,031 shares of the information services provider’s stock valued at $3,792,000 after buying an additional 81 shares during the period. Guerra Pan Advisors LLC increased its position in Alphabet by 0.7% in the 4th quarter. Guerra Pan Advisors LLC now owns 28,460 shares of the information services provider’s stock valued at $5,387,000 after buying an additional 198 shares in the last quarter. Clarendon Private LLC acquired a new position in Alphabet during the 4th quarter worth approximately $1,199,000. Finally, Affinity Wealth Management LLC boosted its holdings in Alphabet by 2.2% in the fourth quarter. Affinity Wealth Management LLC now owns 47,876 shares of the information services provider’s stock worth $9,063,000 after acquiring an additional 1,016 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GOOGL shares. Truist Financial upped their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley raised their price objective on shares of Alphabet from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Roth Mkm boosted their price objective on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.00.

Alphabet Stock Up 1.6 %

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

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,630 shares of company stock valued at $22,258,133. Company insiders own 11.55% of the company’s stock.

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.