Alpha Financial Partners LLC Purchases Shares of 1,545 Alphabet Inc. $GOOGL

Alpha Financial Partners LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,545 shares of the information services provider’s stock, valued at approximately $272,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after acquiring an additional 506 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Alphabet by 10.5% in the first quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider’s stock worth $16,062,000 after acquiring an additional 9,900 shares during the last quarter. CCG Wealth Management LLC grew its stake in shares of Alphabet by 3.9% in the first quarter. CCG Wealth Management LLC now owns 4,175 shares of the information services provider’s stock worth $646,000 after acquiring an additional 155 shares during the last quarter. Finally, Monte Financial Group LLC boosted its stake in Alphabet by 3.9% during the first quarter. Monte Financial Group LLC now owns 6,672 shares of the information services provider’s stock worth $1,009,000 after buying an additional 251 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GOOGL shares. The Goldman Sachs Group reiterated a “buy” rating and set a $288.00 price target on shares of Alphabet in a research note on Tuesday, October 14th. Piper Sandler lifted their price target on shares of Alphabet from $220.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, October 14th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $259.12.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the business’s 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 sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 246,150 shares of company stock worth $55,805,379. Corporate insiders own 11.64% of the company’s stock.

Alphabet Stock Up 0.5%

Shares of NASDAQ GOOGL opened at $251.69 on Thursday. The firm’s 50-day simple moving average is $234.60 and its 200 day simple moving average is $193.72. The company has a market cap of $3.04 trillion, a price-to-earnings ratio of 26.80, a price-to-earnings-growth ratio of 1.69 and a beta of 1.00. The company has a quick ratio of 1.90, a current 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.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results 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. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

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.