Salomon & Ludwin LLC Purchases 228 Shares of Alphabet Inc. $GOOGL

Salomon & Ludwin LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,058 shares of the information services provider’s stock after buying an additional 228 shares during the quarter. Salomon & Ludwin LLC’s holdings in Alphabet were worth $1,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Guardian Wealth Management Inc. lifted its position in 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 buying an additional 119 shares during the last quarter. von Borstel & Associates Inc. bought a new stake in Alphabet in the first quarter valued at approximately $28,000. IMA Advisory Services Inc. bought a new stake in Alphabet in the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC lifted its position in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in Alphabet in the first quarter valued at approximately $39,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 2.7%

NASDAQ GOOGL opened at $274.57 on Thursday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $275.34. The stock 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 fifty day moving average price is $240.86 and its 200-day moving average price is $198.25. 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 (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 103 shares of the stock in a transaction on 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 represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 246,150 shares of company stock valued at $55,805,379. 11.64% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wall Street Zen cut Alphabet from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Wolfe Research increased their price objective on Alphabet from $220.00 to $290.00 in a report on Tuesday, September 30th. JMP Securities reiterated a “market outperform” rating and issued a $290.00 price objective on shares of Alphabet in a report on Wednesday, October 22nd. Mizuho set a $295.00 price objective on Alphabet and gave the stock an “outperform” rating in a report on Monday, September 29th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $266.69.

Alphabet 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.