Alphabet Inc. $GOOGL Shares Purchased by Journey Advisory Group LLC

Journey Advisory Group LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 19.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,894 shares of the information services provider’s stock after purchasing an additional 14,313 shares during the period. Alphabet comprises approximately 1.2% of Journey Advisory Group LLC’s holdings, making the stock its 22nd largest position. Journey Advisory Group LLC’s holdings in Alphabet were worth $15,489,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Mystic Asset Management Inc. lifted its position in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after acquiring an additional 1,791 shares during the period. Harbour Trust & Investment Management Co lifted its position in shares of Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock valued at $4,187,000 after acquiring an additional 80 shares during the period. Cypress Capital LLC lifted its position in shares of Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after acquiring an additional 563 shares during the period. Bridgeway Capital Management LLC lifted its position in shares of Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after acquiring an additional 13,371 shares during the period. Finally, Alaethes Wealth LLC lifted its position in shares of Alphabet by 1.1% during the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after acquiring an additional 84 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GOOGL shares. Canaccord Genuity Group lifted their price target on shares of Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday. BMO Capital Markets set a $294.00 price target on shares of Alphabet and gave the company an “outperform” rating in a research report on Thursday, October 9th. Royal Bank Of Canada reiterated a “buy” rating on shares of Alphabet in a research report on Thursday. JMP Securities reiterated a “market outperform” rating and set a $290.00 price target on shares of Alphabet in a research report on Wednesday, October 22nd. Finally, Wolfe Research reiterated an “outperform” rating and set a $350.00 price target (up from $290.00) on shares of Alphabet in a research report on Thursday. Three 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $301.32.

Alphabet Stock Up 2.5%

GOOGL stock opened at $281.48 on Friday. The stock 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. 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 one year low of $140.53 and a one year high of $291.59. The company has a 50 day moving average price of $242.49 and a two-hundred day moving average price of $198.83.

Alphabet (NASDAQ:GOOGL) last released 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 firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares of the company’s stock, valued at $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 246,150 shares of company stock worth $55,805,379 in the last three months. 11.64% of the stock is currently owned by company insiders.

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.