Alexis Investment Partners LLC Raises Stake in Alphabet Inc. $GOOGL

Alexis Investment Partners LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,556 shares of the information services provider’s stock after purchasing an additional 189 shares during the quarter. Alexis Investment Partners LLC’s holdings in Alphabet were worth $635,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Mystic Asset Management Inc. lifted its holdings in shares of Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after buying an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co lifted its holdings in shares of Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after buying an additional 80 shares in the last quarter. Cypress Capital LLC lifted its holdings in shares of Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after buying an additional 563 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after buying an additional 13,371 shares in the last quarter. Finally, Alaethes Wealth LLC lifted its holdings in shares of Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after buying an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 2.5%

Shares of GOOGL opened at $281.48 on Friday. 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 Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $291.59. The stock has a market capitalization of $3.40 trillion, a PE ratio of 27.76, a P/E/G ratio of 1.86 and a beta of 1.00. The company’s fifty day moving average is $242.49 and its 200 day moving average is $198.83.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 transaction, the chief executive officer 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. Insiders have sold 246,150 shares of company stock worth $55,805,379 over the last quarter. Insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GOOGL shares. UBS Group reissued a “neutral” rating and issued a $306.00 target price (up previously from $255.00) on shares of Alphabet in a report on Thursday. Canaccord Genuity Group boosted their target price on shares of Alphabet from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday. Royal Bank Of Canada reissued a “buy” rating on shares of Alphabet in a report on Thursday. Truist Financial boosted their price target on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Tigress Financial boosted their price target on shares of Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.32.

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.