Everhart Financial Group Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 22.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,812 shares of the information services provider’s stock after purchasing an additional 3,313 shares during the period. Alphabet comprises approximately 0.9% of Everhart Financial Group Inc.’s investment portfolio, making the stock its 27th largest holding. Everhart Financial Group Inc.’s holdings in Alphabet were worth $2,132,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Consilium Wealth Advisory LLC raised its holdings in shares of Alphabet by 28.0% in the 2nd quarter. Consilium Wealth Advisory LLC now owns 21,897 shares of the information services provider’s stock worth $2,621,000 after purchasing an additional 4,793 shares during the period. Tran Capital Management L.P. raised its stake in shares of Alphabet by 4.6% in the second quarter. Tran Capital Management L.P. now owns 346,622 shares of the information services provider’s stock valued at $41,491,000 after buying an additional 15,100 shares during the period. Aletheian Wealth Advisors LLC lifted its position in shares of Alphabet by 188.0% during the 2nd quarter. Aletheian Wealth Advisors LLC now owns 13,491 shares of the information services provider’s stock valued at $1,615,000 after buying an additional 8,806 shares during the last quarter. Davis Rea LTD. lifted its holdings in shares of Alphabet by 15.3% during the second quarter. Davis Rea LTD. now owns 106,100 shares of the information services provider’s stock worth $12,700,000 after purchasing an additional 14,111 shares during the period. Finally, Mid American Wealth Advisory Group Inc. acquired a new stake in Alphabet in the second quarter valued at $205,000. 35.08% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
GOOGL has been the subject of a number of recent analyst reports. Mizuho raised their target price on Alphabet from $135.00 to $155.00 in a report on Wednesday, July 26th. Royal Bank of Canada raised their target price on Alphabet from $145.00 to $155.00 in a report on Wednesday, July 26th. Citigroup raised their target price on Alphabet from $130.00 to $153.00 in a report on Wednesday, July 26th. Jefferies Financial Group raised their target price on Alphabet from $150.00 to $165.00 in a report on Wednesday, July 26th. Finally, The Goldman Sachs Group raised their target price on Alphabet from $132.00 to $140.00 and gave the company a “buy” rating in a report on Monday, July 17th. Four equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $143.89.
Alphabet Stock Down 0.1 %
GOOGL opened at $130.25 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. The stock has a market capitalization of $1.64 trillion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06. The business has a 50-day moving average of $130.97 and a two-hundred day moving average of $118.95. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $139.16.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.32 by $0.12. The company had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same quarter in the previous year, the business earned $1.21 EPS. On average, research analysts expect that Alphabet Inc. will post 5.68 earnings per share for the current year.
Insider Activity
In other news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $120.31, for a total value of $1,934,945.73. Following the transaction, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $131.14, for a total value of $26,228.00. Following the transaction, the director now directly owns 5,340 shares of the company’s stock, valued at approximately $700,287.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the completion of the transaction, the senior vice president now directly owns 127,028 shares in the company, valued at $15,282,738.68. The disclosure for this sale can be found here. Insiders have sold 96,092 shares of company stock valued at $12,221,941 in the last three months. Corporate insiders own 0.88% 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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