Alphabet Inc. $GOOGL Shares Sold by Tower Wealth Partners Inc.

Tower Wealth Partners Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 46.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,772 shares of the information services provider’s stock after selling 1,564 shares during the period. Tower Wealth Partners Inc.’s holdings in Alphabet were worth $312,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Guardian Wealth Management Inc. boosted 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 last quarter. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet during the first quarter valued at $28,000. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet during the first quarter valued at $28,000. NBZ Investment Advisors LLC boosted 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 last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake 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.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GOOGL shares. Piper Sandler increased their price objective on Alphabet from $220.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, October 14th. Canaccord Genuity Group increased their target price on Alphabet from $230.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. CIBC increased their target price on Alphabet to $315.00 in a research report on Monday, October 20th. Finally, Westpark Capital increased their target price on Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $263.55.

Alphabet Stock Performance

Alphabet stock opened at $259.92 on Monday. The stock’s 50-day moving average is $236.72 and its 200-day moving average is $195.85. The company has a market cap of $3.14 trillion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.75 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. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $261.68.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The transaction 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 firm’s stock in a transaction dated 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 completion of the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock worth $55,805,379 in the last three months. 11.55% of the stock is currently owned by company insiders.

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.