Opes Wealth Management LLC Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Opes Wealth Management LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 17.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,086 shares of the information services provider’s stock after buying an additional 1,212 shares during the period. Opes Wealth Management LLC’s holdings in Alphabet were worth $1,130,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in GOOGL. Chico Wealth RIA acquired a new position in shares of Alphabet during the 3rd quarter valued at $330,000. Summit Global Investments lifted its holdings in shares of Alphabet by 67.7% during the 3rd quarter. Summit Global Investments now owns 241,463 shares of the information services provider’s stock valued at $31,598,000 after acquiring an additional 97,466 shares in the last quarter. Prentice Wealth Management LLC lifted its holdings in shares of Alphabet by 18.1% during the 3rd quarter. Prentice Wealth Management LLC now owns 7,140 shares of the information services provider’s stock valued at $934,000 after acquiring an additional 1,096 shares in the last quarter. Sunflower Bank N.A. lifted its holdings in shares of Alphabet by 6.3% during the 3rd quarter. Sunflower Bank N.A. now owns 5,951 shares of the information services provider’s stock valued at $779,000 after acquiring an additional 353 shares in the last quarter. Finally, David J Yvars Group lifted its holdings in shares of Alphabet by 10.3% during the 3rd quarter. David J Yvars Group now owns 4,170 shares of the information services provider’s stock valued at $546,000 after acquiring an additional 390 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on GOOGL. Rosenblatt Securities boosted their price objective on shares of Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Friday. Canaccord Genuity Group boosted their price objective on shares of Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday. Stifel Nicolaus boosted their price objective on shares of Alphabet from $174.00 to $196.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley boosted their price objective on shares of Alphabet from $165.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday. Finally, UBS Group boosted their price objective on shares of Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Five research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $187.82.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 253,439 shares of company stock valued at $36,746,578. Corporate insiders own 0.88% of the company’s stock.

Alphabet Stock Up 10.2 %

GOOGL stock opened at $171.95 on Friday. The company’s 50 day simple moving average is $147.85 and its 200-day simple moving average is $141.39. Alphabet Inc. has a 52-week low of $103.54 and a 52-week high of $174.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The firm has a market capitalization of $2.14 trillion, a P/E ratio of 29.65, a P/E/G ratio of 1.47 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same period in the prior year, the business earned $1.05 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current year.

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.