Orca Wealth Management LLC Invests $1.65 Million in Alphabet Inc. (NASDAQ:GOOGL)

Orca Wealth Management LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,714 shares of the information services provider’s stock, valued at approximately $1,650,000. Alphabet accounts for 1.5% of Orca Wealth Management LLC’s holdings, making the stock its 23rd biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Kennedy Investment Group increased its holdings in Alphabet by 1.7% during the 4th quarter. Kennedy Investment Group now owns 6,826 shares of the information services provider’s stock worth $1,292,000 after purchasing an additional 113 shares during the period. Genesee Capital Advisors LLC increased its holdings in Alphabet by 8.5% during the 4th quarter. Genesee Capital Advisors LLC now owns 5,782 shares of the information services provider’s stock worth $1,095,000 after purchasing an additional 452 shares during the period. BSW Wealth Partners increased its holdings in Alphabet by 7.0% during the 4th quarter. BSW Wealth Partners now owns 23,959 shares of the information services provider’s stock worth $4,535,000 after purchasing an additional 1,571 shares during the period. Falcon Wealth Planning increased its holdings in Alphabet by 8.4% during the 4th quarter. Falcon Wealth Planning now owns 8,558 shares of the information services provider’s stock worth $1,620,000 after purchasing an additional 660 shares during the period. Finally, Bensler LLC increased its holdings in Alphabet by 7.1% during the 4th quarter. Bensler LLC now owns 102,072 shares of the information services provider’s stock worth $19,322,000 after purchasing an additional 6,763 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. The trade was a 1.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,029 shares of company stock valued at $18,462,883. 11.55% of the stock is owned by company insiders.

Alphabet Price Performance

Alphabet stock opened at $206.38 on Wednesday. The company’s fifty day moving average price is $189.64 and its 200 day moving average price is $174.20. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05. The stock has a market capitalization of $2.53 trillion, a P/E ratio of 27.37, a P/E/G ratio of 1.31 and a beta of 0.99. 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 (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on GOOGL shares. Bank of America reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Monday, December 23rd. JPMorgan Chase & Co. increased their target price on Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Needham & Company LLC increased their target price on Alphabet from $210.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Roth Mkm increased their target price on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Scotiabank raised Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Nine research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.