Turtle Creek Wealth Advisors LLC Invests $1.80 Million in Alphabet Inc. (NASDAQ:GOOGL)

Turtle Creek Wealth Advisors LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 12,898 shares of the information services provider's stock, valued at approximately $1,802,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Alphabet by 1,919.4% during the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider's stock valued at $45,628,484,000 after purchasing an additional 453,413,389 shares during the last quarter. State Street Corp grew its stake in Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider's stock valued at $20,770,809,000 after purchasing an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC grew its stake in Alphabet by 111,197.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider's stock valued at $15,036,178,000 after purchasing an additional 170,267,122 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Alphabet by 1,759.2% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider's stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares during the last quarter. Finally, Norges Bank purchased a new stake in Alphabet during the 4th quarter valued at about $8,335,063,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Frances Arnold sold 230 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O'toole sold 660 shares of the firm's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frances Arnold sold 230 shares of the firm's stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,339 shares of company stock worth $36,033,907. Corporate insiders own 0.88% of the company's stock.

Alphabet Trading Down 0.3 %

NASDAQ:GOOGL traded down $0.46 during trading hours on Tuesday, reaching $154.40. 20,767,421 shares of the stock were exchanged, compared to its average volume of 30,361,230. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average of $145.55 and a two-hundred day moving average of $140.02. Alphabet Inc. has a twelve month low of $102.63 and a twelve month high of $160.22. The company has a market capitalization of $1.92 trillion, a price-to-earnings ratio of 26.69, a PEG ratio of 1.46 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released 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 for the quarter, compared to analysts' expectations of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same period in the prior year, the firm earned $1.05 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 6.78 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GOOGL shares. Mizuho boosted their price objective on Alphabet from $155.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, January 17th. Wells Fargo & Company reduced their price target on Alphabet from $144.00 to $141.00 and set an "equal weight" rating for the company in a report on Wednesday, April 3rd. Roth Mkm reduced their price target on Alphabet from $166.00 to $164.00 and set a "buy" rating for the company in a report on Wednesday, January 31st. Barclays reduced their price target on Alphabet from $180.00 to $173.00 and set an "overweight" rating for the company in a report on Wednesday, January 31st. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $160.00 price target on shares of Alphabet in a report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $156.64.

Alphabet Profile

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.