Alphabet Inc. $GOOGL Shares Bought by Welch Group LLC

Welch Group LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,262 shares of the information services provider’s stock after acquiring an additional 2,467 shares during the period. Welch Group LLC’s holdings in Alphabet were worth $11,325,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Presilium Private Wealth LLC boosted its holdings in shares of Alphabet by 3.6% in the 2nd quarter. Presilium Private Wealth LLC now owns 2,865 shares of the information services provider’s stock valued at $505,000 after buying an additional 99 shares in the last quarter. Cypress Capital Group boosted its holdings in shares of Alphabet by 2.6% in the 2nd quarter. Cypress Capital Group now owns 42,580 shares of the information services provider’s stock valued at $7,504,000 after buying an additional 1,061 shares in the last quarter. Stephens Consulting LLC boosted its holdings in shares of Alphabet by 5.1% in the 2nd quarter. Stephens Consulting LLC now owns 4,445 shares of the information services provider’s stock valued at $783,000 after buying an additional 214 shares in the last quarter. Bill Few Associates Inc. boosted its holdings in shares of Alphabet by 1.5% in the 2nd quarter. Bill Few Associates Inc. now owns 11,303 shares of the information services provider’s stock valued at $1,992,000 after buying an additional 164 shares in the last quarter. Finally, MOKAN Wealth Management Inc. boosted its holdings in shares of Alphabet by 2.7% in the 2nd quarter. MOKAN Wealth Management Inc. now owns 6,470 shares of the information services provider’s stock valued at $1,140,000 after buying an additional 169 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GOOGL shares. UBS Group restated a “neutral” rating on shares of Alphabet in a report on Wednesday. Citizens Jmp upped their target price on shares of Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Rosenblatt Securities increased their price target on shares of Alphabet from $191.00 to $224.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Wedbush increased their price target on shares of Alphabet from $225.00 to $245.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 3rd. Finally, Susquehanna increased their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “positive” rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $259.12.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock worth $55,805,379 in the last 90 days. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $253.08 on Friday. The company has a 50-day simple moving average of $235.60 and a 200-day simple moving average of $194.45. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.06 trillion, a PE ratio of 26.95, a P/E/G ratio of 1.70 and a beta of 1.00. 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 analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion during 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%. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

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.