Proathlete Wealth Management LLC Purchases 157 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Proathlete Wealth Management LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the 4th quarter, HoldingsChannel reports. The firm owned 13,613 shares of the information services provider’s stock after acquiring an additional 157 shares during the quarter. Alphabet makes up about 1.0% of Proathlete Wealth Management LLC’s holdings, making the stock its 18th biggest holding. Proathlete Wealth Management LLC’s holdings in Alphabet were worth $2,577,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. LMR Partners LLP bought a new stake in shares of Alphabet in the 3rd quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 166 shares during the last quarter. Denver PWM LLC lifted its stake in shares of Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 57 shares during the last quarter. Quarry LP bought a new stake in shares of Alphabet in the 2nd quarter valued at about $53,000. Finally, Teachers Insurance & Annuity Association of America bought a new stake in shares of Alphabet in the 3rd quarter valued at about $66,000. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the transaction, the director now directly owns 23,324 shares in the company, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,029 shares of company stock valued at $18,462,883 in the last ninety days. 11.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GOOGL. Wolfe Research boosted their price target on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Loop Capital boosted their price target on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Wedbush boosted their price target on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Nine investment 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $211.00.

Alphabet Price Performance

NASDAQ GOOGL opened at $206.38 on Wednesday. The business’s fifty day moving average price is $189.64 and its 200-day moving average price is $174.20. The stock has a market capitalization of $2.53 trillion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.31 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. On average, equities analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current year.

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.