Transform Wealth LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 158,551 shares of the information services provider’s stock after acquiring an additional 3,734 shares during the quarter. Alphabet comprises about 1.7% of Transform Wealth LLC’s holdings, making the stock its 10th largest holding. Transform Wealth LLC’s holdings in Alphabet were worth $18,979,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Live Oak Investment Partners acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $26,000. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $34,000. Turim 21 Investimentos Ltda. acquired a new stake in shares of Alphabet during the third quarter worth approximately $38,000. IAG Wealth Partners LLC grew its position 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 worth $41,000 after buying an additional 200 shares in the last quarter. Finally, Kalos Management Inc. acquired a new stake in shares of Alphabet during the first quarter worth approximately $48,000. Hedge funds and other institutional investors own 35.08% of the company’s stock.
Analyst Ratings Changes
Several brokerages recently issued reports on GOOGL. Evercore ISI raised their price objective on Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 26th. Bank of America raised their price objective on Alphabet from $142.00 to $146.00 and gave the stock a “buy” rating in a research note on Wednesday, August 30th. Stifel Nicolaus raised their price objective on Alphabet from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Credit Suisse Group raised their price objective on Alphabet from $135.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, July 17th. Finally, Robert W. Baird raised their price objective on Alphabet from $123.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, July 21st. Four investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.89.
Alphabet Trading Down 0.1 %
Shares of GOOGL opened at $130.25 on Monday. The business’s 50-day moving average price is $130.97 and its 200 day moving average price is $119.13. The stock has a market capitalization of $1.64 trillion, a P/E ratio of 27.60, a P/E/G ratio of 1.50 and a beta of 1.06. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $139.16. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. The firm had revenue of $74.60 billion for 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 last year, the business posted $1.21 EPS. Analysts expect that Alphabet Inc. will post 5.68 earnings per share for the current year.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $137.30, for a total transaction of $27,460.00. Following the transaction, the director now owns 7,584 shares of the company’s stock, valued at approximately $1,041,283.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphabet news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $137.30, for a total transaction of $27,460.00. Following the transaction, the director now owns 7,584 shares of the company’s stock, valued at approximately $1,041,283.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the transaction, the chief accounting officer now directly owns 25,568 shares in the company, valued at approximately $3,484,407.04. The disclosure for this sale can be found here. Insiders have sold a total of 95,712 shares of company stock valued at $12,175,801 in the last 90 days. 0.88% of the stock is currently owned by corporate insiders.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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