BXM Wealth LLC Has $1.87 Million Stake in Alphabet Inc. $GOOGL

BXM Wealth LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,654 shares of the information services provider’s stock after selling 101 shares during the quarter. Alphabet comprises 2.2% of BXM Wealth LLC’s investment portfolio, making the stock its 9th largest holding. BXM Wealth LLC’s holdings in Alphabet were worth $1,867,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mystic Asset Management Inc. lifted 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 purchasing an additional 1,791 shares in the last quarter. 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.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer 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 filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock worth $55,805,379 in the last quarter. 11.64% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $269.27 on Tuesday. The stock has a market capitalization 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 stock has a 50-day moving average price of $238.03 and a 200 day moving average price of $196.63. 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 Inc. has a 12-month low of $140.53 and a 12-month high of $270.14.

Analysts Set New Price Targets

Several research firms have weighed in on GOOGL. Moffett Nathanson raised their price target on Alphabet from $230.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, September 25th. KeyCorp reaffirmed an “overweight” rating and issued a $300.00 price target (up previously from $265.00) on shares of Alphabet in a report on Monday. Bank of America raised their price target on Alphabet from $252.00 to $280.00 and gave the company a “buy” rating in a report on Monday, October 20th. 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. Finally, Sanford C. Bernstein raised their price objective on Alphabet from $210.00 to $260.00 and gave the company a “market perform” rating in a report on Wednesday, October 22nd. Four investment 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $264.34.

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.