Gleason Group Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 23.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,080 shares of the information services provider’s stock after purchasing an additional 400 shares during the quarter. Gleason Group Inc.’s holdings in Alphabet were worth $249,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Live Oak Investment Partners purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $26,000. Armor Investment Advisors LLC purchased a new position in shares of Alphabet in the 2nd quarter valued at approximately $28,000. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $34,000. Turim 21 Investimentos Ltda. purchased a new position in shares of Alphabet in the 3rd quarter valued at approximately $38,000. Finally, IAG Wealth Partners LLC raised its position in shares of Alphabet by 100.0% in the 1st 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 during the last quarter. 35.08% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on GOOGL. Evercore ISI raised their price target on shares of Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 26th. Jefferies Financial Group raised their price target on shares of Alphabet from $150.00 to $165.00 in a research report on Wednesday, July 26th. Wells Fargo & Company raised their price objective on shares of Alphabet from $116.00 to $121.00 in a research note on Wednesday, July 26th. Susquehanna reaffirmed a “positive” rating and set a $150.00 price objective on shares of Alphabet in a research note on Thursday, August 31st. Finally, Credit Suisse Group raised their price objective on shares of Alphabet from $135.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, July 17th. Four 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.86.
Insider Transactions at Alphabet
In other news, CAO Amie Thuener O’toole sold 420 shares of Alphabet stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $132.09, for a total transaction of $55,477.80. Following the transaction, the chief accounting officer now owns 25,988 shares in the company, valued at approximately $3,432,754.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 420 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $132.09, for a total value of $55,477.80. Following the sale, the chief accounting officer now directly owns 25,988 shares in the company, valued at approximately $3,432,754.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ann Mather sold 220 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $121.75, for a total transaction of $26,785.00. Following the completion of the sale, the director now owns 4,759 shares in the company, valued at $579,408.25. The disclosure for this sale can be found here. Insiders have sold a total of 101,091 shares of company stock worth $13,527,476 in the last quarter. Company insiders own 0.88% of the company’s stock.
Alphabet Trading Up 1.9 %
Shares of GOOGL stock opened at $137.58 on Monday. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $139.16. 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’s fifty day moving average is $132.63 and its two-hundred day moving average is $121.78. The firm has a market capitalization of $1.73 trillion, a P/E ratio of 29.15, a PEG ratio of 1.58 and a beta of 1.06.
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, topping the consensus estimate of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The business had revenue of $74.60 billion for the quarter, compared to analyst estimates of $60.24 billion. During the same quarter in the previous year, the firm earned $1.21 EPS. Research analysts expect that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.
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.
See Also
- Five stocks we like better than Alphabet
- What is the Dogs of the Dow Strategy? Overview and Examples
- How To Find Value Stocks Using This Simple Filtering Method
- How to Start Investing in Penny Stocks
- MarketBeat Week in Review – 10/2 – 10/6
- Why Invest in 5G? How to Invest in 5G Stocks
- Levi Strauss: A Bottom is in for Steady, Stable Dividend Payer
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.
