Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Firethorn Wealth Partners LLC

Firethorn Wealth Partners LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the fourth quarter, Holdings Channel reports. The firm owned 10,275 shares of the information services provider’s stock after buying an additional 219 shares during the period. Alphabet comprises about 1.0% of Firethorn Wealth Partners LLC’s holdings, making the stock its 24th largest position. Firethorn Wealth Partners LLC’s holdings in Alphabet were worth $1,945,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Miramar Capital LLC grew its holdings in Alphabet by 78.8% in the 2nd quarter. Miramar Capital LLC now owns 43,854 shares of the information services provider’s stock worth $7,988,000 after buying an additional 19,332 shares in the last quarter. Kendall Capital Management increased its holdings in shares of Alphabet by 5.6% in the second quarter. Kendall Capital Management now owns 15,770 shares of the information services provider’s stock valued at $2,873,000 after purchasing an additional 830 shares in the last quarter. Concorde Asset Management LLC increased its holdings in shares of Alphabet by 15.8% in the second quarter. Concorde Asset Management LLC now owns 2,266 shares of the information services provider’s stock valued at $413,000 after purchasing an additional 310 shares in the last quarter. Riverview Capital Advisers LLC increased its holdings in shares of Alphabet by 0.7% in the second quarter. Riverview Capital Advisers LLC now owns 21,140 shares of the information services provider’s stock valued at $3,851,000 after purchasing an additional 150 shares in the last quarter. Finally, Haverford Financial Services Inc. acquired a new stake in Alphabet during the 2nd quarter worth $7,006,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the sale, the chief executive officer now owns 2,084,306 shares of the company’s stock, valued at approximately $369,672,512.16. This represents a 1.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,630 shares of company stock worth $22,258,133 in the last quarter. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $200.87 on Friday. The company’s 50 day moving average price is $187.53 and its two-hundred day moving average price is $173.84. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $202.29. The firm has a market cap of $2.46 trillion, a PE ratio of 26.64, a PEG ratio of 1.27 and a beta of 0.98. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the business posted $1.55 EPS. Equities research analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on GOOGL. Loop Capital lifted their target price on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Wedbush lifted their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Robert W. Baird reaffirmed an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Tuesday, December 10th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Wells Fargo & Company lifted their target price on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $209.82.

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.