Patriot Financial Group Insurance Agency LLC Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Patriot Financial Group Insurance Agency LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,611 shares of the information services provider’s stock after purchasing an additional 1,706 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Alphabet were worth $5,227,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Unisphere Establishment boosted its holdings in Alphabet by 8.9% during the 2nd quarter. Unisphere Establishment now owns 1,878,500 shares of the information services provider’s stock valued at $342,169,000 after acquiring an additional 153,500 shares during the period. Wick Capital Partners LLC boosted its holdings in Alphabet by 12.5% during the 2nd quarter. Wick Capital Partners LLC now owns 2,764 shares of the information services provider’s stock valued at $503,000 after acquiring an additional 308 shares during the period. Alpha DNA Investment Management LLC boosted its holdings in Alphabet by 144.6% during the 2nd quarter. Alpha DNA Investment Management LLC now owns 9,823 shares of the information services provider’s stock valued at $1,789,000 after acquiring an additional 5,807 shares during the period. Alight Capital Management LP boosted its holdings in Alphabet by 19.2% during the 2nd quarter. Alight Capital Management LP now owns 35,758 shares of the information services provider’s stock valued at $6,513,000 after acquiring an additional 5,758 shares during the period. Finally, AlTi Global Inc. boosted its holdings in Alphabet by 0.5% during the 2nd quarter. AlTi Global Inc. now owns 258,554 shares of the information services provider’s stock valued at $47,096,000 after acquiring an additional 1,405 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $206.38 on Wednesday. The company 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 business’s 50 day moving average is $189.64 and its two-hundred day moving average is $174.20. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Analysts expect that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Royal Bank of Canada boosted their price objective on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research report on Monday, January 27th. Needham & Company LLC lifted 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. Stifel Nicolaus lifted their target price on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Loop Capital lifted their target price on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. 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. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $211.00.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was 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 owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. This trade represents a 6.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,029 shares of company stock valued at $18,462,883 over the last quarter. 11.55% of the stock is currently owned by insiders.

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.