Alphabet Inc. $GOOGL Shares Purchased by Carmel Capital Partners LLC

Carmel Capital Partners LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,445 shares of the information services provider’s stock after buying an additional 93 shares during the period. Carmel Capital Partners LLC’s holdings in Alphabet were worth $255,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Guardian Wealth Management Inc. raised its holdings in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. purchased a new position in shares of Alphabet in the first quarter worth approximately $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the first quarter worth approximately $28,000. NBZ Investment Advisors LLC increased its position in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet in the first quarter worth approximately $39,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GOOGL shares. Bank of America lifted their target price on shares of Alphabet from $252.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Oppenheimer lifted their target price on shares of Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Mizuho set a $295.00 target price on shares of Alphabet and gave the stock an “outperform” rating in a research report on Monday, September 29th. Wedbush lifted their target price on shares of Alphabet from $245.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Finally, Jefferies Financial Group lifted their target price on shares of Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Three equities 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $264.34.

Alphabet Price Performance

Shares of Alphabet stock opened at $267.47 on Wednesday. The firm has a fifty day simple moving average of $239.35 and a 200-day simple moving average of $197.43. 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 1-year low of $140.53 and a 1-year high of $270.73. The stock has a market capitalization of $3.23 trillion, a price-to-earnings ratio of 28.48, a PEG ratio of 1.82 and a beta of 1.00.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on 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 owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the sale, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. This trade represents a 1.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 246,150 shares of company stock valued at $55,805,379. 11.55% 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.