Wealth Management Partners LLC grew its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 4.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,878 shares of the information services provider’s stock after purchasing an additional 790 shares during the quarter. Alphabet comprises approximately 1.3% of Wealth Management Partners LLC’s investment portfolio, making the stock its 18th biggest holding. Wealth Management Partners LLC’s holdings in Alphabet were worth $2,042,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of GOOG. Mark Sheptoff Financial Planning LLC grew its holdings in Alphabet by 142.9% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 340 shares of the information services provider’s stock worth $35,000 after purchasing an additional 200 shares during the last quarter. Milestone Wealth LLC grew its holdings in shares of Alphabet by 1,900.0% during the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock valued at $37,000 after buying an additional 361 shares during the last quarter. Bbjs Financial Advisors LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $48,000. GW&K Investment Management LLC acquired a new position in shares of Alphabet in the 1st quarter valued at $50,000. Finally, Impact Partnership Wealth LLC acquired a new position in shares of Alphabet in the 2nd quarter valued at $50,000. 27.13% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. Wedbush assumed coverage on Alphabet in a research report on Monday, August 21st. They issued an “outperform” rating on the stock. Oppenheimer upped their target price on Alphabet from $145.00 to $160.00 in a research report on Wednesday, July 26th. Susquehanna upped their target price on Alphabet from $120.00 to $150.00 in a research report on Wednesday, July 26th. Finally, Robert W. Baird upped their target price on Alphabet from $123.00 to $140.00 in a research report on Wednesday, July 26th. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $130.94.
Insider Transactions at Alphabet
In other news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the sale, the senior vice president now directly owns 75,621 shares of the company’s stock, valued at approximately $10,119,602.22. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $133.82, for a total value of $2,152,227.06. Following the transaction, the senior vice president now directly owns 75,621 shares of the company’s stock, valued at approximately $10,119,602.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 3,749 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 25,568 shares in the company, valued at $3,484,407.04. The disclosure for this sale can be found here. Insiders have sold a total of 101,091 shares of company stock valued at $13,527,476 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.
Alphabet Trading Up 2.0 %
GOOG stock opened at $138.73 on Monday. The company’s 50-day simple moving average is $133.39 and its 200-day simple moving average is $122.45. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $139.93. The firm has a market cap of $1.75 trillion, a P/E ratio of 29.39, a PEG ratio of 1.60 and a beta of 1.06.
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping 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 business had revenue of $74.60 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period in the prior year, the company posted $1.21 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities analysts forecast that Alphabet Inc. will post 5.68 EPS for the current fiscal year.
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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