Alphabet Inc. $GOOGL Stock Holdings Boosted by LMG Wealth Partners LLC

LMG Wealth Partners LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,943 shares of the information services provider’s stock after purchasing an additional 405 shares during the period. LMG Wealth Partners LLC’s holdings in Alphabet were worth $2,105,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. raised its holdings 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 worth $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet during the first quarter worth $28,000. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet during the first quarter worth $28,000. NBZ Investment Advisors LLC raised its holdings 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 worth $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the first quarter worth $39,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other news, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director directly owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares in the company, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 246,150 shares of company stock valued at $55,805,379 in the last quarter. Insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Oppenheimer increased their price objective on Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Royal Bank Of Canada increased their price objective on Alphabet from $220.00 to $260.00 and gave the stock an “outperform” rating in a report on Wednesday, September 3rd. Morgan Stanley set a $270.00 target price on shares of Alphabet and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Finally, Citizens Jmp increased their target price on shares of Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $266.69.

Alphabet Trading Up 2.7%

Shares of NASDAQ:GOOGL opened at $274.57 on Thursday. The company has a market cap of $3.32 trillion, a P/E ratio of 29.24, a P/E/G ratio of 1.81 and a beta of 1.00. The stock’s 50-day moving average is $240.86 and its 200-day moving average is $198.25. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $275.34. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

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.