Watershed Private Wealth LLC Invests $316,000 in Alphabet Inc. (NASDAQ:GOOGL)

Watershed Private Wealth LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,580 shares of the information services provider’s stock, valued at approximately $316,000.

A number of other hedge funds have also added to or reduced their stakes in GOOGL. Spreng Capital Management Inc. lifted its position in shares of Alphabet by 4.0% during the 1st 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 last quarter. West Family Investments Inc. lifted 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 buying an additional 6 shares during the last quarter. Maple Capital Management Inc. lifted its position in shares of Alphabet by 2.1% during the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after buying an additional 6 shares during the last quarter. Private Advisory Group LLC lifted its position in shares of Alphabet by 1.8% during the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after buying an additional 7 shares during the last quarter. Finally, Weik Capital Management lifted its position in shares of Alphabet by 0.5% during the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after buying an additional 8 shares during the last quarter. 34.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on GOOGL. Raymond James upped their price target on Alphabet from $119.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Royal Bank of Canada increased their price objective on Alphabet from $130.00 to $132.00 in a report on Wednesday, April 26th. Sanford C. Bernstein dropped their price objective on Alphabet from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 20th. Oppenheimer increased their price objective on Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Finally, Truist Financial increased their price objective on Alphabet from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Four analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $130.56.

Insider Transactions at Alphabet

In related news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $90.05, for a total transaction of $34,219.00. Following the sale, the director now directly owns 11,300 shares in the company, valued at $1,017,565. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $90.05, for a total transaction of $34,219.00. Following the sale, the director now directly owns 11,300 shares in the company, valued at $1,017,565. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 732,217 shares of company stock worth $21,135,371 and have sold 753,384 shares worth $30,574,577. Corporate insiders own 0.88% of the company’s stock.

Alphabet Price Performance

GOOGL opened at $123.48 on Friday. The firm has a market cap of $1.57 trillion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.54 and a beta of 1.10. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $126.43. The stock’s 50 day simple moving average is $108.64 and its 200 day simple moving average is $99.13. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The firm had revenue of $69.79 billion for the quarter, compared to analyst estimates of $57.19 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. During the same period last year, the company earned $1.23 EPS. As a group, analysts predict that Alphabet Inc. will post 5.41 earnings per share for the current year.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.