Blodgett Wealth Advisors LLC Acquires 42,172 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Blodgett Wealth Advisors LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,918.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,370 shares of the information services provider’s stock after buying an additional 42,172 shares during the period. Alphabet accounts for about 5.1% of Blodgett Wealth Advisors LLC’s holdings, making the stock its 5th biggest holding. Blodgett Wealth Advisors LLC’s holdings in Alphabet were worth $4,244,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Financial Enhancement Group LLC purchased a new position in shares of Alphabet during the 1st quarter worth $31,000. Horizons Wealth Management purchased a new position in Alphabet during the second quarter worth about $33,000. Carolina Wealth Advisors LLC raised its stake in Alphabet by 1,900.0% during the third quarter. Carolina Wealth Advisors LLC now owns 400 shares of the information services provider’s stock worth $38,000 after purchasing an additional 380 shares during the period. Advocacy Wealth Management Services LLC boosted its holdings in Alphabet by 72.7% in the 2nd quarter. Advocacy Wealth Management Services LLC now owns 19 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 8 shares during the last quarter. Finally, Cardinal Capital Management Inc. purchased a new stake in shares of Alphabet in the 2nd quarter valued at approximately $41,000. 34.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the sale, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Ann Mather sold 280 shares of the business’s stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total value of $28,904.40. Following the transaction, the director now owns 11,200 shares in the company, valued at approximately $1,156,176. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the sale, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The disclosure for this sale can be found here. In the last three months, insiders bought 1,461,702 shares of company stock valued at $36,999,217 and sold 190,744 shares valued at $8,564,640. Company insiders own 11.44% of the company’s stock.

Alphabet Stock Up 1.3 %

GOOGL stock opened at $87.34 on Monday. The stock has a market cap of $1.13 trillion, a P/E ratio of 17.34, a PEG ratio of 1.53 and a beta of 1.09. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $151.55. The company’s 50 day moving average is $92.64 and its two-hundred day moving average is $102.95.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The company had revenue of $57.27 billion for the quarter, compared to analyst estimates of $58.36 billion. During the same quarter in the prior year, the business earned $1.40 earnings per share. Research analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GOOGL. New Street Research assumed coverage on Alphabet in a report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price objective on the stock. Robert W. Baird lowered their price target on Alphabet to $120.00 in a report on Thursday, October 27th. The Goldman Sachs Group reduced their price objective on shares of Alphabet to $135.00 in a report on Thursday, October 27th. Susquehanna lowered their target price on shares of Alphabet from $150.00 to $120.00 and set a “positive” rating for the company in a research note on Wednesday, October 26th. Finally, Mizuho reduced their price target on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. Five analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $132.00.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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