Altus Wealth Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,380 shares of the information services provider’s stock after buying an additional 100 shares during the period. Alphabet comprises 0.2% of Altus Wealth Management LLC’s portfolio, making the stock its 24th largest holding. Altus Wealth Management LLC’s holdings in Alphabet were worth $285,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SkyOak Wealth LLC raised its position in Alphabet by 3.6% in the second quarter. SkyOak Wealth LLC now owns 21,824 shares of the information services provider’s stock worth $2,612,000 after acquiring an additional 766 shares during the period. Cassia Capital Partners LLC increased its stake in shares of Alphabet by 16.4% in the second quarter. Cassia Capital Partners LLC now owns 3,523 shares of the information services provider’s stock worth $422,000 after purchasing an additional 497 shares in the last quarter. Scissortail Wealth Management LLC increased its stake in shares of Alphabet by 5.4% in the second quarter. Scissortail Wealth Management LLC now owns 4,559 shares of the information services provider’s stock worth $556,000 after purchasing an additional 232 shares in the last quarter. Osborne Partners Capital Management LLC increased its stake in shares of Alphabet by 1.2% in the second quarter. Osborne Partners Capital Management LLC now owns 112,287 shares of the information services provider’s stock worth $13,441,000 after purchasing an additional 1,364 shares in the last quarter. Finally, Sendero Wealth Management LLC increased its stake in shares of Alphabet by 8.4% in the second quarter. Sendero Wealth Management LLC now owns 115,595 shares of the information services provider’s stock worth $13,837,000 after purchasing an additional 8,997 shares in the last quarter. Institutional investors own 35.08% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on GOOGL. Mizuho raised their target price on shares of Alphabet from $135.00 to $155.00 in a research note on Wednesday, July 26th. Royal Bank of Canada increased their price objective on shares of Alphabet from $145.00 to $155.00 in a research report on Wednesday, July 26th. The Goldman Sachs Group raised their target price on shares of Alphabet from $132.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, July 17th. Wedbush assumed coverage on shares of Alphabet in a report on Monday, August 21st. They set an “outperform” rating and a $160.00 price objective for the company. Finally, Rosenblatt Securities lifted their price objective on shares of Alphabet from $132.00 to $163.00 and gave the company a “buy” rating in a 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.86.
Alphabet Price Performance
Shares of NASDAQ GOOGL opened at $137.58 on Monday. 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 Inc. has a one year low of $83.34 and a one year high of $139.16. The company’s fifty day moving average is $132.63 and its two-hundred day moving average is $121.78. 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 quarterly earnings data 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 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 $60.24 billion. During the same period in the previous year, the firm earned $1.21 EPS. Analysts forecast that Alphabet Inc. will post 5.68 EPS for the current fiscal year.
Insider Buying and Selling
In related news, insider John Kent Walker sold 42,900 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $136.51, for a total value of $5,856,279.00. Following the sale, the insider now directly owns 10,383 shares in the company, valued at approximately $1,417,383.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, insider John Kent Walker sold 42,900 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $136.51, for a total value of $5,856,279.00. Following the transaction, the insider now directly owns 10,383 shares in the company, valued at approximately $1,417,383.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 220 shares of the company’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 transaction, 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 101,091 shares of company stock worth $13,527,476 in the last three months. Corporate insiders own 0.88% of the company’s stock.
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.
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