Atlas Private Wealth Management increased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 39,321 shares of the information services provider’s stock after purchasing an additional 650 shares during the period. Alphabet accounts for 2.5% of Atlas Private Wealth Management’s investment portfolio, making the stock its 8th largest holding. Atlas Private Wealth Management’s holdings in Alphabet were worth $4,707,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. DC Investments Management LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $114,000. Bridgefront Capital LLC purchased a new stake in shares of Alphabet during the 1st quarter valued at $225,000. Worth Asset Management LLC purchased a new stake in shares of Alphabet during the 1st quarter valued at $206,000. Eudaimonia Advisors LLC raised its position in shares of Alphabet by 15.1% during the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after buying an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC purchased a new stake in shares of Alphabet during the 1st quarter valued at $281,000. 35.08% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. Jefferies Financial Group raised their price objective on shares of Alphabet from $150.00 to $165.00 in a research report on Wednesday, July 26th. Royal Bank of Canada raised their price objective on shares of Alphabet from $145.00 to $155.00 in a research report on Wednesday, July 26th. Wedbush assumed coverage on shares of Alphabet in a research report on Monday, August 21st. They set an “outperform” rating and a $160.00 price objective on the stock. Susquehanna reiterated a “positive” rating and issued a $150.00 target price on shares of Alphabet in a research report on Thursday, August 31st. Finally, Citigroup lifted their target price on shares of Alphabet from $130.00 to $153.00 in a research report on Wednesday, July 26th. Four investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.89.
Insider Activity
In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at $15,282,738.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at $15,282,738.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $131.14, for a total transaction of $26,228.00. Following the sale, the director now directly owns 5,340 shares of the company’s stock, valued at $700,287.60. The disclosure for this sale can be found here. Insiders sold 96,092 shares of company stock valued at $12,221,941 over the last three months. Insiders own 0.88% of the company’s stock.
Alphabet Trading Down 0.1 %
NASDAQ:GOOGL opened at $130.25 on Friday. Alphabet Inc. has a one year low of $83.34 and a one year high of $139.16. 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 company’s 50-day simple moving average is $130.97 and its 200 day simple moving average is $118.95. The firm has a market capitalization of $1.64 trillion, a P/E ratio of 27.60, a PEG ratio of 1.50 and a beta of 1.06.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The firm had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $60.24 billion. During the same period in the previous year, the company earned $1.21 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 5.68 EPS for the current fiscal year.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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