Outlook Wealth Advisors LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Outlook Wealth Advisors LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 59.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,380 shares of the information services provider’s stock after acquiring an additional 1,254 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Alphabet were worth $515,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. FMR LLC grew its stake in Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after purchasing an additional 4,348,188 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Alphabet by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after buying an additional 9,703,425 shares in the last quarter. Capital International Investors increased its stake in shares of Alphabet by 1.1% during the fourth quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock worth $11,309,370,000 after buying an additional 862,550 shares during the period. Northern Trust Corp raised its holdings in Alphabet by 2.3% in the third quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after acquiring an additional 1,275,060 shares in the last quarter. Finally, Norges Bank purchased a new position in Alphabet in the fourth quarter worth approximately $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, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 253,439 shares of company stock worth $36,746,578. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price objective 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. Morgan Stanley restated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Raymond James upped their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Oppenheimer raised 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, Susquehanna upped 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. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $165.67.

Alphabet Stock Performance

Shares of GOOG stock traded up $15.74 during mid-day trading on Friday, hitting $173.69. 56,500,787 shares of the stock were exchanged, compared to its average volume of 18,324,858. The stock’s fifty day simple moving average is $149.12 and its two-hundred day simple moving average is $142.75. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet Inc. has a 12-month low of $104.42 and a 12-month high of $176.42. The stock has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 26.64, a P/E/G 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter last year, the business posted $1.17 EPS. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, analysts forecast that Alphabet Inc. will post 6.79 EPS for the current 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.