1,659 Shares in Alphabet Inc. (NASDAQ:GOOGL) Bought by Beam Wealth Advisors Inc.

Beam Wealth Advisors Inc. acquired a new position in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,659 shares of the information services provider’s stock, valued at approximately $232,000.

Several other institutional investors also recently made changes to their positions in the stock. FMR LLC boosted its position in Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after purchasing an additional 12,070,681 shares in the last quarter. Northern Trust Corp raised its stake in shares of Alphabet by 3.7% during the 3rd quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock worth $8,857,154,000 after buying an additional 2,416,328 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Alphabet by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 34,035,275 shares of the information services provider’s stock worth $4,453,856,000 after buying an additional 335,219 shares during the last quarter. American Century Companies Inc. grew its stake in Alphabet by 7.8% in the 3rd quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock valued at $3,279,955,000 after acquiring an additional 1,809,910 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in Alphabet by 9.3% during the 3rd quarter. Jennison Associates LLC now owns 24,145,417 shares of the information services provider’s stock valued at $3,159,669,000 after acquiring an additional 2,058,221 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

GOOGL stock opened at $159.13 on Thursday. The stock has a 50-day simple moving average of $146.96 and a 200-day simple moving average of $141.06. The firm has a market cap of $1.98 trillion, a P/E ratio of 27.44, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet Inc. has a 1 year low of $102.63 and a 1 year high of $160.22.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter last year, the company earned $1.05 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the transaction, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the sale, the chief executive officer now owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock valued at $36,377,482 in the last quarter. Company insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of several recent research reports. Citigroup reaffirmed a “buy” rating and issued a $168.00 price target on shares of Alphabet in a report on Wednesday, April 10th. Wells Fargo & Company lowered their target price on Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $155.00 price target on shares of Alphabet in a report on Wednesday, January 31st. Canaccord Genuity Group increased their price objective on Alphabet from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $185.00 price objective (up previously from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $158.71.

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.