Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Outlook Wealth Advisors LLC

Outlook Wealth Advisors LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 59.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 3,380 shares of the information services provider’s stock after purchasing an additional 1,254 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Alphabet were worth $515,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. FMR LLC raised its holdings in Alphabet by 3.8% in the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after acquiring an additional 4,348,188 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Alphabet by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after purchasing an additional 9,703,425 shares during the last quarter. Capital International Investors raised its stake in shares of Alphabet by 1.1% in the 4th quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock valued at $11,309,370,000 after purchasing an additional 862,550 shares in the last quarter. Northern Trust Corp lifted its position in shares of Alphabet by 2.3% during the third quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock worth $7,550,942,000 after purchasing an additional 1,275,060 shares during the last quarter. Finally, Norges Bank acquired a new position in Alphabet in the fourth quarter worth about $4,101,040,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions 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 stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following 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 can be accessed through this hyperlink. In related news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the company’s 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 sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 253,439 shares of company stock worth $36,746,578. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

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

Alphabet Stock Performance

GOOG traded up $15.74 during trading on Friday, reaching $173.69. 56,500,787 shares of the company were exchanged, compared to its average volume of 18,324,858. Alphabet Inc. has a 52 week low of $104.42 and a 52 week high of $176.42. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average of $149.12 and a 200 day moving average of $142.75. The stock has a market cap of $2.16 trillion, a P/E ratio of 26.64, a PEG ratio of 1.45 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same quarter in the prior year, the firm earned $1.17 earnings per share. The company’s quarterly revenue was up 15.4% on a year-over-year basis. On average, sell-side analysts forecast that Alphabet Inc. will post 6.79 EPS 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.