2,126 Shares in Alphabet Inc. (NASDAQ:GOOG) Purchased by Outlook Wealth Advisors LLC

Outlook Wealth Advisors LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, HoldingsChannel reports. The firm bought 2,126 shares of the information services provider’s stock, valued at approximately $300,000.

A number of other institutional investors have also added to or reduced their stakes in GOOG. Financial Advisors Network Inc. boosted its holdings in Alphabet by 4.5% during the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after purchasing an additional 7 shares in the last quarter. Turim 21 Investimentos Ltda. raised its stake in shares of Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after acquiring an additional 8 shares during the last quarter. West Michigan Advisors LLC raised its stake in shares of Alphabet by 3.7% in the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after acquiring an additional 9 shares during the last quarter. Somerville Kurt F raised its stake in shares of Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after acquiring an additional 11 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC raised its stake in shares of Alphabet by 1.4% in the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $3,301,000 after acquiring an additional 16 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Oppenheimer lifted their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Morgan Stanley restated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Susquehanna boosted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Finally, Raymond James boosted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $157.50.

Alphabet Stock Performance

Shares of Alphabet stock opened at $156.33 on Tuesday. The firm has a fifty day moving average of $146.73 and a two-hundred day moving average of $141.34. The stock has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 26.95, a PEG ratio of 1.47 and a beta of 1.05. Alphabet Inc. has a 52 week low of $103.27 and a 52 week high of $161.70. 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 (NASDAQ:GOOG) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 6.78 EPS for the current year.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total value of $3,198,150.00. Following the completion of the transaction, the chief executive officer now owns 2,400,191 shares of the company’s stock, valued at approximately $341,163,148.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total value of $3,198,150.00. Following the completion of the transaction, the chief executive officer now owns 2,400,191 shares of the company’s stock, valued at approximately $341,163,148.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 251,339 shares of company stock worth $36,033,907. Insiders own 12.99% of the company’s stock.

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.