Principle Wealth Partners LLC Purchases 129 Shares of Alphabet Inc. (NASDAQ:GOOG)

Principle Wealth Partners LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 0.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,024 shares of the information services provider’s stock after buying an additional 129 shares during the period. Alphabet makes up approximately 1.1% of Principle Wealth Partners LLC’s portfolio, making the stock its 20th biggest position. Principle Wealth Partners LLC’s holdings in Alphabet were worth $12,405,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GOOG. Tandem Wealth Advisors LLC bought a new stake in Alphabet during the 3rd quarter worth approximately $25,000. Bruce G. Allen Investments LLC bought a new stake in Alphabet during the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC bought a new stake in Alphabet during the 4th quarter worth approximately $28,000. Buck Wealth Strategies LLC bought a new stake in Alphabet during the 3rd quarter worth approximately $32,000. Finally, Barometer Capital Management Inc. bought a new stake in Alphabet during the 3rd quarter worth approximately $32,000. 27.26% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction 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 transaction, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following 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 a total of 253,439 shares of company stock valued at $36,746,578 over the last 90 days. 12.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on GOOG shares. Morgan Stanley reissued an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer increased their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Raymond James increased their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $165.67.

Alphabet Trading Up 10.0 %

Alphabet stock opened at $173.69 on Monday. The stock has a market cap of $2.16 trillion, a P/E ratio of 26.64, a PEG ratio of 1.59 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $104.42 and a fifty-two week high of $176.42. The firm’s fifty day moving average price is $149.12 and its 200-day moving average price is $142.78. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.17 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 6.8 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.