Principle Wealth Partners LLC Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

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

A number of other large investors also recently modified their holdings of GOOG. Cranbrook Wealth Management LLC increased its holdings in Alphabet by 14.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock valued at $80,000 after buying an additional 70 shares in the last quarter. Manchester Financial Inc. increased its holdings in Alphabet by 3.6% in the fourth quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock valued at $299,000 after buying an additional 74 shares in the last quarter. Atticus Wealth Management LLC increased its holdings in Alphabet by 1.4% in the third quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock valued at $694,000 after buying an additional 75 shares in the last quarter. Congress Park Capital LLC increased its holdings in Alphabet by 0.3% in the fourth quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock valued at $3,177,000 after buying an additional 76 shares in the last quarter. Finally, Emerald Advisors LLC increased its holdings in Alphabet by 0.6% in the fourth quarter. Emerald Advisors LLC now owns 13,565 shares of the information services provider’s stock valued at $1,912,000 after buying an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the business’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 approximately $1,035,402.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction that occurred 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 sale, 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 worth $36,746,578 in the last ninety days. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

GOOG opened at $173.69 on Monday. The firm has a market capitalization of $2.16 trillion, a PE ratio of 26.64, a PEG ratio of 1.59 and a beta of 1.05. Alphabet Inc. has a twelve month low of $104.42 and a twelve month high of $176.42. The firm’s 50-day moving average price is $149.12 and its 200 day moving average price is $142.78. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. Alphabet’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.17 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 6.8 EPS for the current fiscal year.

About Alphabet

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.