Redhawk Wealth Advisors Inc. Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Sep 24th, 2023

Redhawk Wealth Advisors Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 26.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 8,076 shares of the information services provider’s stock after purchasing an additional 1,690 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Alphabet were worth $967,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of GOOGL. Walker Asset Management LLC lifted its position in shares of Alphabet by 3.8% during the second quarter. Walker Asset Management LLC now owns 2,714 shares of the information services provider’s stock worth $325,000 after acquiring an additional 100 shares in the last quarter. Golden Green Inc. purchased a new stake in shares of Alphabet during the second quarter worth $784,000. FRG Family Wealth Advisors LLC lifted its position in shares of Alphabet by 0.4% during the second quarter. FRG Family Wealth Advisors LLC now owns 102,855 shares of the information services provider’s stock worth $12,312,000 after acquiring an additional 400 shares in the last quarter. Falcon Wealth Planning lifted its position in shares of Alphabet by 4.2% during the second quarter. Falcon Wealth Planning now owns 5,982 shares of the information services provider’s stock worth $716,000 after acquiring an additional 239 shares in the last quarter. Finally, Everhart Financial Group Inc. lifted its position in shares of Alphabet by 22.8% during the second quarter. Everhart Financial Group Inc. now owns 17,812 shares of the information services provider’s stock worth $2,132,000 after acquiring an additional 3,313 shares in the last quarter. Hedge funds and other institutional investors own 35.08% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $130.25 on Friday. The firm has a 50 day moving average price of $130.97 and a 200-day moving average price of $118.95. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $139.16. The firm has a market capitalization of $1.64 trillion, a price-to-earnings ratio of 27.60, a PEG ratio of 1.50 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17.

Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) 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 analyst estimates of $60.24 billion. During the same period last year, the business earned $1.21 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 5.68 EPS for the current fiscal year.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 3,749 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total transaction of $510,913.72. Following the completion of the sale, the chief accounting officer now owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $131.14, for a total value of $26,228.00. Following the completion of the sale, the director now owns 5,340 shares of the company’s stock, valued at approximately $700,287.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total transaction of $510,913.72. Following the completion of the sale, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at approximately $3,484,407.04. 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 90 days. Corporate insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent research reports. Jefferies Financial Group increased their target price on Alphabet from $150.00 to $165.00 in a research report on Wednesday, July 26th. Citigroup increased their price objective on Alphabet from $130.00 to $153.00 in a research report on Wednesday, July 26th. Tigress Financial increased their price objective on Alphabet from $160.00 to $172.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 14th. Piper Sandler increased their price objective on Alphabet from $140.00 to $148.00 in a research report on Wednesday, July 26th. Finally, Credit Suisse Group increased their price objective on Alphabet from $135.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, July 17th. Four research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $143.89.

Check Out Our Latest Analysis on GOOGL

About Alphabet

(Free Report)

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.