Joseph P. Lucia & Associates LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,369 shares of the information services provider’s stock after purchasing an additional 175 shares during the period. Joseph P. Lucia & Associates LLC’s holdings in Alphabet were worth $762,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. CFS Investment Advisory Services LLC lifted its position in shares of Alphabet by 5.4% during the second quarter. CFS Investment Advisory Services LLC now owns 6,530 shares of the information services provider’s stock worth $782,000 after purchasing an additional 334 shares in the last quarter. Nilsine Partners LLC lifted its position in shares of Alphabet by 2.6% during the second quarter. Nilsine Partners LLC now owns 22,632 shares of the information services provider’s stock worth $2,709,000 after purchasing an additional 569 shares in the last quarter. Mcdaniel Terry & Co. raised its stake in shares of Alphabet by 4.2% during the second quarter. Mcdaniel Terry & Co. now owns 16,616 shares of the information services provider’s stock worth $1,989,000 after buying an additional 671 shares during the last quarter. Graypoint LLC raised its stake in shares of Alphabet by 2.3% during the second quarter. Graypoint LLC now owns 45,756 shares of the information services provider’s stock worth $5,477,000 after buying an additional 1,038 shares during the last quarter. Finally, Corundum Group Inc. raised its stake in shares of Alphabet by 7.2% during the second quarter. Corundum Group Inc. now owns 9,706 shares of the information services provider’s stock worth $1,162,000 after buying an additional 652 shares during the last quarter. 35.08% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on GOOGL shares. Loop Capital boosted their price target on shares of Alphabet from $125.00 to $140.00 and gave the stock a “hold” rating in a research note on Friday, August 18th. Sanford C. Bernstein boosted their price target on shares of Alphabet from $130.00 to $135.00 in a research note on Wednesday, July 26th. Robert W. Baird boosted their price target on shares of Alphabet from $123.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, July 21st. Bank of America boosted their price target on shares of Alphabet from $142.00 to $146.00 and gave the stock a “buy” rating in a research note on Wednesday, October 4th. Finally, Credit Suisse Group boosted their price target 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 equities research 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.86.
Alphabet Stock Performance
Shares of GOOGL opened at $138.42 on Tuesday. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $139.16. The firm has a fifty day simple moving average of $132.75 and a 200 day simple moving average of $122.01. The stock has a market capitalization of $1.75 trillion, a price-to-earnings ratio of 29.33, a PEG ratio of 1.58 and a beta of 1.06. 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 announced its 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 net margin of 21.05% and a return on equity of 23.49%. The business had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $60.24 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. Research analysts forecast that Alphabet Inc. will post 5.68 EPS for the current fiscal year.
Insider Buying and Selling at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 3,749 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the sale, the chief accounting officer now owns 25,568 shares in the company, valued at $3,484,407.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction 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 completion of the sale, the director now owns 7,584 shares in the company, valued at $1,041,283.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 3,749 shares of the stock in a transaction on 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 sale, the chief accounting officer now owns 25,568 shares of the company’s stock, valued at approximately $3,484,407.04. The disclosure for this sale can be found here. Insiders sold a total of 101,091 shares of company stock worth $13,527,476 over the last quarter. 0.88% of the stock is currently owned by insiders.
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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