Genesee Capital Advisors LLC Grows Stake in Alphabet Inc. $GOOGL

Genesee Capital Advisors LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 8.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,247 shares of the information services provider’s stock after buying an additional 505 shares during the period. Genesee Capital Advisors LLC’s holdings in Alphabet were worth $1,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Guardian Wealth Management Inc. raised its holdings in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares during the period. IMA Advisory Services Inc. bought a new position in Alphabet in the 1st quarter worth $28,000. von Borstel & Associates Inc. bought a new position in Alphabet in the 1st quarter worth $28,000. NBZ Investment Advisors LLC raised 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 worth $30,000 after purchasing an additional 90 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings in Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after purchasing an additional 67 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.5%

Shares of GOOGL stock opened at $251.69 on Thursday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $257.33. 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 stock’s 50-day moving average price is $234.60 and its 200-day moving average price is $193.72. The stock has a market capitalization 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.

Alphabet (NASDAQ:GOOGL) last issued its 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. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.60 billion. Equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at $3,629,725.80. This trade represents a 16.06% 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 valued at $55,805,379. 11.64% of the stock is owned by insiders.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent research reports. Wedbush raised their target price on Alphabet from $225.00 to $245.00 and gave the stock an “outperform” rating in a report on Wednesday, September 3rd. UBS Group raised their target price on Alphabet from $237.00 to $255.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Canaccord Genuity Group raised their price target on Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Roth Capital raised their price target on Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Finally, Bank of America raised their price target on Alphabet from $252.00 to $280.00 and gave the company a “buy” rating in a report on Monday. Four analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $259.12.

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.