Alphabet Inc. $GOOGL Shares Acquired by 1858 Wealth Management LLC

1858 Wealth Management LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 31.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,715 shares of the information services provider’s stock after purchasing an additional 899 shares during the quarter. 1858 Wealth Management LLC’s holdings in Alphabet were worth $655,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Guardian Wealth Management Inc. grew its stake in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new stake in Alphabet in the 1st quarter valued at $28,000. IMA Advisory Services Inc. acquired a new stake in Alphabet in the 1st quarter valued at $28,000. NBZ Investment Advisors LLC lifted its holdings in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet in the 1st quarter valued at $39,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. UBS Group raised their price objective on Alphabet from $237.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Jefferies Financial Group raised their price objective on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Royal Bank Of Canada raised their price objective on Alphabet from $220.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday, September 3rd. KeyCorp raised their price objective on Alphabet from $230.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Finally, Citigroup raised their price objective on Alphabet from $225.00 to $280.00 and gave the company a “buy” rating in a report on Monday, September 15th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $257.60.

Alphabet Stock Down 2.4%

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

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 analysts’ consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the transaction, the director directly owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 246,150 shares of company stock worth $55,805,379. 11.55% of the stock is currently owned by corporate insiders.

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