Elite Life Management LLC Takes Position in Alphabet Inc. (NASDAQ:GOOG)

Elite Life Management LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,900 shares of the information services provider’s stock, valued at approximately $550,000. Alphabet comprises approximately 3.3% of Elite Life Management LLC’s investment portfolio, making the stock its 9th largest position.

Several other large investors have also recently bought and sold shares of the company. Diversified LLC increased its position in Alphabet by 12.3% in the fourth quarter. Diversified LLC now owns 4,867 shares of the information services provider’s stock worth $686,000 after purchasing an additional 534 shares during the period. Telemus Capital LLC boosted its stake in shares of Alphabet by 5.8% in the 4th quarter. Telemus Capital LLC now owns 85,225 shares of the information services provider’s stock valued at $12,011,000 after purchasing an additional 4,677 shares during the last quarter. Greenwich Wealth Management LLC grew its position in shares of Alphabet by 2.5% during the 4th quarter. Greenwich Wealth Management LLC now owns 7,162 shares of the information services provider’s stock worth $1,009,000 after buying an additional 178 shares during the period. GUNN & Co INVESTMENT MANAGEMENT INC. raised its stake in shares of Alphabet by 964.3% during the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 482,698 shares of the information services provider’s stock worth $68,027,000 after buying an additional 437,345 shares during the last quarter. Finally, MCF Advisors LLC lifted its holdings in Alphabet by 22.9% in the fourth quarter. MCF Advisors LLC now owns 6,409 shares of the information services provider’s stock valued at $903,000 after buying an additional 1,193 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

GOOG stock opened at $159.92 on Wednesday. Alphabet Inc. has a 1-year low of $103.27 and a 1-year high of $161.70. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.99 trillion, a PE ratio of 27.57, a P/E/G ratio of 1.46 and a beta of 1.05. The business’s 50-day moving average price is $147.92 and its two-hundred day moving average price is $142.27.

Alphabet (NASDAQ:GOOG) 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. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. During the same quarter last year, the firm posted $1.05 earnings per share. Alphabet’s revenue was up 13.5% compared to the same quarter last year. As a group, research analysts forecast that Alphabet Inc. will post 6.78 earnings per share for the current year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Director Frances Arnold sold 230 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated 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. In the last three months, insiders have sold 251,339 shares of company stock worth $36,377,482. Company insiders own 12.99% of the company’s stock.

Alphabet Company 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.