Alphabet Inc. $GOOGL Shares Bought by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,418 shares of the information services provider’s stock after purchasing an additional 2,236 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Alphabet were worth $5,537,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after acquiring an additional 4,110 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after acquiring an additional 506 shares during the period. Diversified Trust Co increased its holdings in shares of Alphabet by 2.0% in the 1st quarter. Diversified Trust Co now owns 305,027 shares of the information services provider’s stock valued at $47,169,000 after acquiring an additional 5,892 shares during the period. Victrix Investment Advisors increased its holdings in shares of Alphabet by 2.9% in the 1st quarter. Victrix Investment Advisors now owns 45,301 shares of the information services provider’s stock valued at $6,849,000 after acquiring an additional 1,270 shares during the period. Finally, Transcend Capital Advisors LLC increased its holdings in shares of Alphabet by 17.8% in the 1st quarter. Transcend Capital Advisors LLC now owns 63,325 shares of the information services provider’s stock valued at $9,793,000 after acquiring an additional 9,549 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent research reports. UBS Group reaffirmed a “neutral” rating and issued a $306.00 target price (up from $255.00) on shares of Alphabet in a report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Alphabet from $260.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Citigroup reiterated a “buy” rating and issued a $343.00 price objective (up from $280.00) on shares of Alphabet in a research report on Thursday. Finally, Bank of America lifted their price objective on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $301.32.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the sale, the director owned 5,116 shares in the company, valued at $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 246,150 shares of company stock worth $55,805,379. 11.64% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $281.48 on Friday. The firm has a market capitalization of $3.40 trillion, a P/E ratio of 27.76, a PEG ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $291.59. The company’s fifty day moving average is $242.49 and its two-hundred day moving average is $198.83. 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 earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

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.