Lion Street Advisors LLC Acquires 312 Shares of Alphabet Inc. $GOOGL

Lion Street Advisors LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,532 shares of the information services provider’s stock after acquiring an additional 312 shares during the quarter. Lion Street Advisors LLC’s holdings in Alphabet were worth $1,680,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GOOGL. Guardian Wealth Management Inc. lifted its stake in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the first quarter valued at $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet during the first quarter valued at $28,000. NBZ Investment Advisors LLC lifted its stake in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet during the first quarter valued at $39,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 0.6%

NASDAQ GOOGL opened at $253.08 on Friday. The firm has a market cap of $3.06 trillion, a P/E ratio of 26.95, a P/E/G ratio of 1.70 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 stock’s 50-day moving average is $235.60 and its 200-day moving average is $194.45. Alphabet Inc. has a one year low of $140.53 and a one year high of $257.33.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GOOGL. KeyCorp upped their price target on Alphabet from $230.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Barclays upped their price target on Alphabet from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Wells Fargo & Company set a $236.00 target price on Alphabet and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. BNP Paribas lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Finally, Sanford C. Bernstein increased their target price on Alphabet from $210.00 to $260.00 and gave the company a “market perform” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $259.12.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director directly owned 17,284 shares in the company, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 over the last 90 days. Insiders own 11.64% of the company’s stock.

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.