Aries Wealth Management Buys 340 Shares of Alphabet Inc. $GOOGL

Aries Wealth Management boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,744 shares of the information services provider’s stock after purchasing an additional 340 shares during the quarter. Alphabet makes up 1.5% of Aries Wealth Management’s investment portfolio, making the stock its 13th largest position. Aries Wealth Management’s holdings in Alphabet were worth $5,770,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Mystic Asset Management Inc. boosted its stake in Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after purchasing an additional 1,791 shares during the period. Harbour Trust & Investment Management Co raised its holdings in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock valued at $4,187,000 after acquiring an additional 80 shares in the last quarter. Cypress Capital LLC raised its holdings in shares of Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after acquiring an additional 563 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after acquiring an additional 13,371 shares in the last quarter. Finally, Alaethes Wealth LLC raised its holdings in shares of Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after acquiring an additional 84 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $259.92 on Friday. 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 business’s 50 day simple moving average is $236.72 and its two-hundred day simple moving average is $195.60. The stock has a market capitalization of $3.14 trillion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $261.68.

Alphabet (NASDAQ:GOOGL) last announced 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 business 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%. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

GOOGL has been the topic of several recent analyst reports. BMO Capital Markets set a $294.00 price target on Alphabet and gave the company an “outperform” rating in a report on Thursday, October 9th. New Street Research raised their price target on Alphabet from $275.00 to $295.00 in a report on Friday. Canaccord Genuity Group raised their price target on Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 4th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $288.00 price target on shares of Alphabet in a report on Tuesday, October 14th. Finally, Westpark Capital raised their price target on Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Four 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 stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $263.55.

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.