Blossom Wealth Management Purchases 580 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Blossom Wealth Management increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 24.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,965 shares of the information services provider’s stock after purchasing an additional 580 shares during the period. Blossom Wealth Management’s holdings in Alphabet were worth $414,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in GOOGL. Vanguard Group Inc. raised its holdings in shares of Alphabet by 1,919.4% during the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after purchasing an additional 453,413,389 shares during the last quarter. State Street Corp raised its holdings in shares of Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after purchasing an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of Alphabet by 111,197.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after purchasing an additional 170,267,122 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares during the last quarter. Finally, Norges Bank purchased a new stake in Alphabet during the fourth quarter valued at approximately $8,335,063,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the transaction, the director now owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the transaction, the director now owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The disclosure for this sale can be found here. In the last quarter, insiders have sold 251,339 shares of company stock valued at $36,377,482. Company insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. StockNews.com raised shares of Alphabet from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $155.00 target price on shares of Alphabet in a report on Wednesday, January 31st. BMO Capital Markets reaffirmed an “outperform” rating and set a $185.00 target price (up from $178.00) on shares of Alphabet in a report on Wednesday, April 10th. Redburn Atlantic upped their target price on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Finally, Truist Financial upped their target price on shares of Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

Alphabet Price Performance

GOOGL stock opened at $155.47 on Thursday. The firm has a market capitalization of $1.93 trillion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. Alphabet Inc. has a 52 week low of $102.63 and a 52 week high of $160.22. The company has a fifty day simple moving average of $145.95 and a two-hundred day simple moving average of $140.29. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

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

Alphabet 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.