Turtle Creek Wealth Advisors LLC Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

Turtle Creek Wealth Advisors LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 124.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 55,118 shares of the information services provider's stock after purchasing an additional 30,603 shares during the quarter. Alphabet accounts for approximately 1.3% of Turtle Creek Wealth Advisors LLC's investment portfolio, making the stock its 20th biggest holding. Turtle Creek Wealth Advisors LLC's holdings in Alphabet were worth $8,523,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in GOOGL. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth about $28,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth about $39,000. Elite Financial Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth about $42,000. Anderson Financial Strategies LLC purchased a new stake in shares of Alphabet during the 4th quarter worth about $49,000. Finally, EQ Wealth Advisors LLC purchased a new stake in shares of Alphabet during the 1st quarter worth about $49,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 1.0%

Shares of NASDAQ:GOOGL traded up $1.94 during mid-day trading on Thursday, reaching $192.17. 74,740,490 shares of the company were exchanged, compared to its average volume of 39,272,972. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market cap of $2.33 trillion, a price-to-earnings ratio of 20.47, a P/E/G ratio of 1.33 and a beta of 1.00. The firm's 50-day simple moving average is $175.23 and its 200 day simple moving average is $173.10. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 31.12% and a return on equity of 35.22%. During the same quarter last year, the company posted $1.89 EPS. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 249,409 shares of company stock valued at $43,523,710 in the last ninety days. 11.64% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent analyst reports. JMP Securities increased their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research note on Thursday. Westpark Capital increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday. Piper Sandler increased their target price on shares of Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research note on Thursday. Susquehanna upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research report on Thursday. Finally, Barclays upped their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock an "overweight" rating in a research report on Thursday. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $211.32.

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.