Alphabet Inc. $GOOGL Holdings Boosted by Bey Douglas LLC

Bey Douglas LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 39.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 78,235 shares of the information services provider’s stock after purchasing an additional 22,135 shares during the quarter. Alphabet makes up about 8.2% of Bey Douglas LLC’s holdings, making the stock its 3rd largest position. Bey Douglas LLC’s holdings in Alphabet were worth $13,787,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Guardian Wealth Management Inc. grew its holdings in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new position in shares of Alphabet during the first quarter worth about $28,000. von Borstel & Associates Inc. purchased a new position in shares of Alphabet during the first quarter worth about $28,000. NBZ Investment Advisors LLC grew its holdings in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. lifted its position in Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Morgan Stanley set a $270.00 price objective on shares of Alphabet and gave the company an “overweight” rating in a research report on Thursday, October 2nd. DA Davidson raised their price objective on shares of Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, September 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. KeyCorp raised their price objective on shares of Alphabet from $230.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Finally, Wells Fargo & Company set a $236.00 price objective on shares of Alphabet and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $257.60.

Alphabet Price Performance

GOOGL stock opened at $250.46 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $257.33. The company has a market cap of $3.03 trillion, a price-to-earnings ratio of 26.67, a PEG ratio of 1.74 and a beta of 1.00. The firm has a 50 day moving average of $233.60 and a 200-day moving average of $193.31.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. As a group, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. The trade was a 1.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock worth $55,805,379 in the last ninety days. Insiders own 11.55% of the company’s stock.

Alphabet 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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.