Exencial Wealth Advisors LLC Purchases New Stake in Alphabet Inc. (NASDAQ:GOOGL)

Exencial Wealth Advisors LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 6,987 shares of the information services provider’s stock, valued at approximately $20,242,000. Alphabet makes up approximately 1.0% of Exencial Wealth Advisors LLC’s investment portfolio, making the stock its 16th biggest holding.

Other institutional investors have also bought and sold shares of the company. Morgan Stanley boosted its position in Alphabet by 1.2% during the second quarter. Morgan Stanley now owns 3,216,517 shares of the information services provider’s stock worth $7,854,059,000 after purchasing an additional 39,437 shares in the last quarter. New World Advisors LLC boosted its position in Alphabet by 7.5% during the third quarter. New World Advisors LLC now owns 428 shares of the information services provider’s stock worth $1,178,000 after purchasing an additional 30 shares in the last quarter. EagleClaw Capital Managment LLC boosted its position in Alphabet by 1.1% during the third quarter. EagleClaw Capital Managment LLC now owns 1,209 shares of the information services provider’s stock worth $3,232,000 after purchasing an additional 13 shares in the last quarter. ARGI Investment Services LLC boosted its position in Alphabet by 5.7% during the third quarter. ARGI Investment Services LLC now owns 878 shares of the information services provider’s stock worth $2,347,000 after purchasing an additional 47 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its position in Alphabet by 2.6% during the third quarter. Panagora Asset Management Inc. now owns 131,896 shares of the information services provider’s stock worth $352,627,000 after purchasing an additional 3,374 shares in the last quarter. Hedge funds and other institutional investors own 41.70% of the company’s stock.

A number of analysts have commented on GOOGL shares. Mizuho decreased their target price on Alphabet from $3,600.00 to $3,500.00 and set a “buy” rating on the stock in a research report on Wednesday, April 27th. KeyCorp cut their price target on Alphabet from $3,400.00 to $3,075.00 and set an “overweight” rating for the company in a report on Wednesday, April 20th. Susquehanna boosted their price target on Alphabet from $3,600.00 to $3,750.00 and gave the stock a “positive” rating in a report on Wednesday, February 2nd. Sanford C. Bernstein boosted their price target on Alphabet from $3,250.00 to $3,500.00 and gave the stock an “outperform” rating in a report on Wednesday, February 2nd. Finally, Stifel Nicolaus cut their price target on Alphabet from $3,500.00 to $3,100.00 and set a “buy” rating for the company in a report on Wednesday, April 27th. Four investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and a consensus target price of $3,314.08.

In related news, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $11.16, for a total value of $6,073,818.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 31 shares of the stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $2,280.98, for a total value of $70,710.38. Following the completion of the transaction, the director now directly owns 265 shares of the company’s stock, valued at approximately $604,459.70. The disclosure for this sale can be found here. Insiders sold 550,261 shares of company stock valued at $21,637,779 in the last ninety days. Company insiders own 13.20% of the company’s stock.

Shares of NASDAQ GOOGL traded up $64.13 on Friday, hitting $2,321.01. The company had a trading volume of 1,748,103 shares, compared to its average volume of 2,051,722. Alphabet Inc. has a 12-month low of $2,196.49 and a 12-month high of $3,030.93. The business has a 50 day moving average of $2,570.32 and a two-hundred day moving average of $2,733.56. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.53 trillion, a P/E ratio of 20.99, a PEG ratio of 1.06 and a beta of 1.13.

Shares of Alphabet are set to split on the morning of Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly created shares will be payable to shareholders after the closing bell on Friday, July 15th.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share for the quarter, missing the consensus estimate of $25.51 by ($0.89). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same period in the previous year, the company posted $26.29 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 112.62 earnings per share for the current year.

About Alphabet (Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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