Fonville Wealth Management LLC Buys New Shares in Alphabet Inc. (NASDAQ:GOOGL)

Fonville Wealth Management LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 1,498 shares of the information services provider’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of GOOGL. FMR LLC increased its holdings in shares of Alphabet by 5.6% in the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after buying an additional 12,070,681 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Alphabet by 4,894.1% in the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after buying an additional 5,336,359 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Alphabet in the 3rd quarter worth about $634,465,000. Ontario Teachers Pension Plan Board bought a new stake in shares of Alphabet in the 3rd quarter worth about $601,545,000. Finally, Lone Pine Capital LLC bought a new position in Alphabet during the 3rd quarter valued at about $407,367,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Up 10.2 %

Shares of NASDAQ:GOOGL opened at $171.95 on Friday. The company has a market capitalization of $2.14 trillion, a PE ratio of 29.65, a P/E/G ratio of 1.47 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $103.54 and a twelve month high of $174.71. The firm has a 50 day simple moving average of $147.85 and a 200-day simple moving average of $141.39.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period in the previous year, the company posted $1.05 EPS. On average, equities analysts predict that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. BMO Capital Markets boosted their price objective on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Friday. Morgan Stanley upped their price target on shares of Alphabet from $165.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday. Canaccord Genuity Group upped their price target on shares of Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday. Truist Financial upped their price target on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $200.00 price target (up previously from $160.00) on shares of Alphabet in a research report on Friday. Five analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $187.82.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the transaction, the director now directly owns 5,891 shares in the company, valued at $1,035,402.16. The disclosure for this sale can be found here. Insiders have sold 253,439 shares of company stock valued at $36,746,578 in the last ninety days. 0.88% of the stock is currently owned by company insiders.

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.