M3 Advisory Group LLC Has $3.55 Million Position in Alphabet Inc. $GOOGL

M3 Advisory Group LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,134 shares of the information services provider’s stock after purchasing an additional 509 shares during the period. Alphabet accounts for approximately 2.5% of M3 Advisory Group LLC’s portfolio, making the stock its 9th largest holding. M3 Advisory Group LLC’s holdings in Alphabet were worth $3,548,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GOOGL. Mystic Asset Management Inc. boosted its holdings in shares of Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after acquiring an additional 1,791 shares during the period. Harbour Trust & Investment Management Co boosted its holdings in shares of Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after acquiring an additional 80 shares during the period. Cypress Capital LLC boosted its holdings in shares of Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after acquiring an additional 563 shares during the period. Bridgeway Capital Management LLC boosted its holdings in shares of Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after acquiring an additional 13,371 shares during the period. Finally, Alaethes Wealth LLC boosted its holdings in shares of Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after acquiring an additional 84 shares during the period. 40.03% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 246,150 shares of company stock valued at $55,805,379. Corporate insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $251.69 on Thursday. The stock has a market cap of $3.04 trillion, a price-to-earnings ratio of 26.80, a P/E/G ratio of 1.69 and a beta of 1.00. 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 1-year low of $140.53 and a 1-year high of $257.33. The stock’s 50-day moving average is $234.60 and its 200 day moving average is $193.72.

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

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of analyst reports. Morgan Stanley set a $270.00 price target on Alphabet and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Jefferies Financial Group raised their price target on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Wall Street Zen lowered Alphabet from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Finally, KeyCorp increased their price objective on Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. Four analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target 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.