Angeles Wealth Management LLC Grows Stock Position in Alphabet Inc. $GOOGL

Angeles Wealth Management LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 8.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,767 shares of the information services provider’s stock after acquiring an additional 2,771 shares during the period. Alphabet makes up about 0.4% of Angeles Wealth Management LLC’s holdings, making the stock its 29th largest holding. Angeles Wealth Management LLC’s holdings in Alphabet were worth $6,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. increased its holdings in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares during the period. IMA Advisory Services Inc. bought a new stake in Alphabet during the 1st quarter valued at approximately $28,000. von Borstel & Associates Inc. bought a new stake in Alphabet during the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC boosted its position in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. boosted its position in shares of Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after purchasing an additional 67 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $269.27 on Tuesday. The firm has a market cap of $3.26 trillion, a price-to-earnings ratio of 28.68, a PEG ratio of 1.75 and a beta of 1.00. The company’s 50 day moving average is $238.03 and its 200 day moving average is $196.63. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $270.14.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was 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 valued at $55,805,379 over the last ninety days. 11.64% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GOOGL shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Moffett Nathanson upped their target price on shares of Alphabet from $230.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Wolfe Research increased their price objective on shares of Alphabet from $220.00 to $290.00 in a report on Tuesday, September 30th. Finally, Westpark Capital increased their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Four investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $264.34.

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.