Morris Financial Concepts Inc. Has $268,000 Stake in Alphabet Inc. (NASDAQ:GOOGL)

Morris Financial Concepts Inc. increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 10.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,916 shares of the information services provider’s stock after purchasing an additional 179 shares during the quarter. Morris Financial Concepts Inc.’s holdings in Alphabet were worth $268,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GOOGL. Spreng Capital Management Inc. lifted its holdings in Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after buying an additional 5 shares during the period. West Family Investments Inc. raised its position in shares of Alphabet by 0.3% during the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after acquiring an additional 6 shares during the last quarter. Maple Capital Management Inc. lifted its stake in shares of Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after purchasing an additional 6 shares during the period. Private Advisory Group LLC boosted its position in shares of Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after purchasing an additional 7 shares during the last quarter. Finally, Weik Capital Management grew its stake in shares of Alphabet by 0.5% during the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after purchasing an additional 8 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $160.00 target price on shares of Alphabet in a report on Wednesday, January 31st. Truist Financial lifted their price objective on shares of Alphabet from $158.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday. Mizuho upped their target price on shares of Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Susquehanna lifted their price target 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, UBS Group boosted their price target on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $158.41.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 251,339 shares of company stock valued at $36,377,482. 0.88% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 1.2 %

Alphabet stock opened at $154.09 on Friday. The company’s 50-day moving average price is $146.26 and its two-hundred day moving average price is $140.54. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.92 trillion, a P/E ratio of 26.57, a P/E/G ratio of 1.43 and a beta of 1.05. Alphabet Inc. has a twelve month low of $102.63 and a twelve month high of $160.22.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter last year, the company earned $1.05 earnings per share. As a group, analysts expect that Alphabet Inc. will post 6.78 EPS for the current 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.