MGO One Seven LLC Boosts Holdings in Alphabet Inc. $GOOGL

MGO One Seven LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 7.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,726 shares of the information services provider’s stock after buying an additional 7,860 shares during the period. Alphabet makes up about 0.6% of MGO One Seven LLC’s holdings, making the stock its 20th biggest position. MGO One Seven LLC’s holdings in Alphabet were worth $19,513,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Guardian Wealth Management Inc. grew its position in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after buying an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new position in Alphabet in the 1st quarter valued at $28,000. von Borstel & Associates Inc. purchased a new position in Alphabet in the 1st quarter valued at $28,000. NBZ Investment Advisors LLC grew its position in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its position in Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after buying an additional 67 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock worth $55,805,379 in the last three months. 11.64% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of NASDAQ 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 debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market cap of $3.06 trillion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $257.33.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on GOOGL shares. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research report on Tuesday, October 14th. DA Davidson boosted their target price on shares of Alphabet from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 2nd. Canaccord Genuity Group boosted their target price on shares of Alphabet from $230.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. BNP Paribas Exane boosted their target price on shares of Alphabet from $187.00 to $247.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $259.12.

About Alphabet

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.