Founders Grove Wealth Partners LLC Acquires 700 Shares of Alphabet Inc. $GOOGL

Founders Grove Wealth Partners LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 17.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,752 shares of the information services provider’s stock after purchasing an additional 700 shares during the quarter. Founders Grove Wealth Partners LLC’s holdings in Alphabet were worth $837,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mystic Asset Management Inc. grew its holdings in Alphabet by 6.7% during the 1st 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 last quarter. Harbour Trust & Investment Management Co raised its stake 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 last quarter. Cypress Capital LLC lifted its position in shares of Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after purchasing an additional 563 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in shares of Alphabet by 17.9% during the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after purchasing an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC grew its stake in shares of Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

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

Shares of GOOGL opened at $259.92 on Friday. The stock has a market cap of $3.14 trillion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $261.68. The stock’s 50-day moving average price is $236.72 and its two-hundred day moving average price is $195.25. 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 (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. On average, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on GOOGL. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research report on Tuesday, October 14th. Bank of America lifted their target price on Alphabet from $252.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, October 20th. 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. Susquehanna raised their price target on Alphabet from $220.00 to $225.00 and gave the company a “positive” rating in a report on Thursday, July 24th. Finally, Moffett Nathanson lifted their price objective on Alphabet from $230.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Four research 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, the company has an average rating of “Moderate Buy” and an average price target of $263.20.

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.