Falcon Wealth Planning raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,982 shares of the information services provider’s stock after buying an additional 239 shares during the quarter. Falcon Wealth Planning’s holdings in Alphabet were worth $716,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in GOOGL. Live Oak Investment Partners bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $26,000. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Alphabet in the 4th quarter worth $34,000. Turim 21 Investimentos Ltda. purchased a new position in shares of Alphabet in the third quarter worth $38,000. IAG Wealth Partners LLC lifted its holdings in shares of Alphabet by 100.0% during the first quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 200 shares in the last quarter. Finally, Kalos Management Inc. bought a new stake in Alphabet in the 1st quarter worth about $48,000. 35.08% of the stock is owned by institutional investors.
Alphabet Stock Performance
GOOGL opened at $130.25 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. The stock 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 fifty day moving average of $130.97 and a 200 day moving average of $118.95. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $139.16.
Insiders Place Their Bets
In related news, insider John Kent Walker sold 42,900 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $136.51, for a total transaction of $5,856,279.00. Following the sale, the insider now owns 10,383 shares of the company’s stock, valued at $1,417,383.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider John Kent Walker sold 42,900 shares of Alphabet stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.51, for a total value of $5,856,279.00. Following the completion of the transaction, the insider now owns 10,383 shares in the company, valued at $1,417,383.33. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $137.30, for a total value of $27,460.00. Following the sale, the director now owns 7,584 shares in the company, valued at $1,041,283.20. The disclosure for this sale can be found here. Insiders have sold a total of 96,092 shares of company stock valued at $12,221,941 in the last quarter. 0.88% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
GOOGL has been the topic of several research analyst reports. KeyCorp upped their target price on shares of Alphabet from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, July 26th. Sanford C. Bernstein raised their target price on shares of Alphabet from $130.00 to $135.00 in a report on Wednesday, July 26th. TD Cowen boosted their target price on shares of Alphabet from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, July 13th. Needham & Company LLC restated a “buy” rating and issued a $140.00 price target on shares of Alphabet in a research note on Wednesday, September 13th. Finally, Wells Fargo & Company upped their price objective on Alphabet from $116.00 to $121.00 in a research report on Wednesday, July 26th. Four analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $143.89.
Check Out Our Latest Stock Report on Alphabet
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.
Featured Stories
- Five stocks we like better than Alphabet
- ESG Stocks, What Investors Should Know
- 3 Reasons This Sleeping Giant Is About To Wake Up
- What is ChatGPT Stock? How to Invest in It
- MarketBeat Week in Review – 9/18 – 9/22
- Are Penny Stocks a Good Fit for Your Portfolio?
- 52-week Low Names To Tip The Upside Scale In Your Favor
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Free Report).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
