AssuredPartners Investment Advisors LLC Raises Stock Holdings in Alphabet Inc. $GOOGL

AssuredPartners Investment Advisors LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,673 shares of the information services provider’s stock after buying an additional 137 shares during the quarter. Alphabet makes up about 1.9% of AssuredPartners Investment Advisors LLC’s holdings, making the stock its 12th largest position. AssuredPartners Investment Advisors LLC’s holdings in Alphabet were worth $7,697,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Primoris Wealth Advisors LLC lifted its holdings in Alphabet by 6.0% during the second quarter. Primoris Wealth Advisors LLC now owns 3,024 shares of the information services provider’s stock valued at $533,000 after purchasing an additional 171 shares during the last quarter. Private Trust Co. NA boosted its stake in Alphabet by 3.3% during the second quarter. Private Trust Co. NA now owns 68,617 shares of the information services provider’s stock valued at $12,092,000 after buying an additional 2,217 shares during the period. Angeles Wealth Management LLC boosted its stake in Alphabet by 8.7% during the second quarter. Angeles Wealth Management LLC now owns 34,767 shares of the information services provider’s stock valued at $6,127,000 after buying an additional 2,771 shares during the period. Applied Finance Capital Management LLC boosted its stake in Alphabet by 7.2% during the second quarter. Applied Finance Capital Management LLC now owns 259,713 shares of the information services provider’s stock valued at $45,771,000 after buying an additional 17,454 shares during the period. Finally, Sage Private Wealth Group LLC lifted its stake in Alphabet by 11.0% during the second quarter. Sage Private Wealth Group LLC now owns 4,226 shares of the information services provider’s stock worth $745,000 after purchasing an additional 418 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on GOOGL. Needham & Company LLC lifted their price target on Alphabet from $220.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Canaccord Genuity Group boosted 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. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Moffett Nathanson upped their target price on Alphabet from $230.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. Finally, BNP Paribas Exane boosted their price target on Alphabet from $187.00 to $247.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $264.34.

Alphabet Price Performance

Shares of Alphabet stock opened at $269.27 on Tuesday. Alphabet Inc. has a one year low of $140.53 and a one year high of $270.14. The stock’s fifty day moving average is $238.03 and its 200 day moving average is $196.63. The stock has a market cap of $3.26 trillion, a P/E ratio of 28.68, a P/E/G ratio of 1.75 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer directly 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. In the last three months, insiders have sold 246,150 shares of company stock valued at $55,805,379. 11.64% of the stock is owned by company insiders.

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.