Monument Group Wealth Advisors LLC Acquires Shares of 2,671 Alphabet Inc. (NASDAQ:GOOG)

Monument Group Wealth Advisors LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,671 shares of the information services provider’s stock, valued at approximately $376,000. Alphabet accounts for approximately 0.3% of Monument Group Wealth Advisors LLC’s investment portfolio, making the stock its 23rd biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC purchased a new position in Alphabet in the fourth quarter valued at about $26,000. Tandem Wealth Advisors LLC purchased a new stake in shares of Alphabet during the third quarter worth about $25,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Alphabet during the fourth quarter worth about $28,000. Buck Wealth Strategies LLC purchased a new stake in shares of Alphabet during the third quarter worth about $32,000. Finally, Barometer Capital Management Inc. purchased a new stake in shares of Alphabet during the third quarter worth about $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.7 %

NASDAQ:GOOG opened at $161.10 on Thursday. The company has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05. Alphabet Inc. has a one year low of $103.27 and a one year high of $161.70. The stock has a 50-day simple moving average of $148.20 and a 200 day simple moving average of $142.40. 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 (NASDAQ:GOOG) last posted 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 business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the firm earned $1.05 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 6.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Susquehanna lifted their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Raymond James lifted their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer lifted 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, Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet has a consensus rating of “Buy” and a consensus price target of $159.86.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’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 value of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock worth $36,377,482 over the last ninety days. 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.