Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Parisi Gray Wealth Management

Parisi Gray Wealth Management boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,284 shares of the information services provider’s stock after purchasing an additional 320 shares during the quarter. Alphabet makes up about 0.9% of Parisi Gray Wealth Management’s investment portfolio, making the stock its 25th largest holding. Parisi Gray Wealth Management’s holdings in Alphabet were worth $2,295,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. First National Corp MA ADV raised its position in Alphabet by 1.1% in the fourth quarter. First National Corp MA ADV now owns 10,210 shares of the information services provider’s stock worth $1,439,000 after acquiring an additional 114 shares in the last quarter. Planned Solutions Inc. purchased a new position in Alphabet during the 4th quarter valued at about $602,000. First Pacific Financial grew its stake in Alphabet by 8.6% during the 4th quarter. First Pacific Financial now owns 8,301 shares of the information services provider’s stock valued at $1,170,000 after acquiring an additional 659 shares in the last quarter. Sterling Investment Management LLC grew its stake in Alphabet by 0.9% during the 4th quarter. Sterling Investment Management LLC now owns 14,006 shares of the information services provider’s stock valued at $1,974,000 after acquiring an additional 131 shares in the last quarter. Finally, Courier Capital LLC grew its stake in Alphabet by 0.4% during the 4th quarter. Courier Capital LLC now owns 91,866 shares of the information services provider’s stock valued at $12,947,000 after acquiring an additional 340 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock traded down $0.11 during trading hours on Thursday, reaching $151.83. 1,844,480 shares of the company’s stock were exchanged, compared to its average volume of 22,814,813. Alphabet Inc. has a fifty-two week low of $100.29 and a fifty-two week high of $155.20. The stock has a market capitalization of $1.89 trillion, a P/E ratio of 26.20, a P/E/G ratio of 1.40 and a beta of 1.05. The business has a fifty day moving average price of $144.57 and a 200-day moving average price of $139.30. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 earnings per share. Analysts predict that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several research reports. Susquehanna lifted their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Raymond James lifted their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $146.33.

Insider Activity

In other news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $140.11, for a total value of $3,152,475.00. Following the completion of the transaction, the chief executive officer now directly owns 2,422,691 shares in the company, valued at approximately $339,443,236.01. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 251,378 shares of company stock worth $35,461,377. Company insiders own 12.99% of the company’s stock.

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.