Ackerman Capital Advisors LLC Has $1.57 Million Stock Holdings in Alphabet Inc. $GOOGL

Ackerman Capital Advisors LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,914 shares of the information services provider’s stock after acquiring an additional 114 shares during the period. Ackerman Capital Advisors LLC’s holdings in Alphabet were worth $1,571,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. grew its position in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares in the last quarter. IMA Advisory Services Inc. bought a new stake in Alphabet in the first quarter worth approximately $28,000. von Borstel & Associates Inc. bought a new stake in Alphabet in the first quarter worth approximately $28,000. NBZ Investment Advisors LLC grew its position in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after acquiring an additional 90 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew 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 worth $44,000 after acquiring an additional 67 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on GOOGL. Wedbush boosted their target price on shares of Alphabet from $225.00 to $245.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 3rd. HSBC initiated coverage on shares of Alphabet in a research note on Tuesday, October 7th. They issued a “buy” rating and a $285.00 target price on the stock. Wolfe Research upped their price target on shares of Alphabet from $220.00 to $290.00 in a report on Tuesday, September 30th. Citizens Jmp upped their price target on shares of Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Finally, Loop Capital restated a “hold” rating and set a $190.00 price target (up from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $259.12.

Alphabet Trading Up 0.5%

Shares of Alphabet stock opened at $251.69 on Thursday. The firm has a market capitalization of $3.04 trillion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 1.69 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company’s fifty day moving average price is $234.60 and its two-hundred day moving average price is $193.72. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $257.33.

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

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 103 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director owned 17,284 shares of the company’s stock, valued at $4,202,258.92. The trade was a 0.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at $592,760,192.85. This trade represents a 1.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 246,150 shares of company stock worth $55,805,379. 11.64% of the stock is currently owned by company 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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.