Beverly Hills Private Wealth LLC Increases Stock Position in Alphabet Inc. $GOOGL

Beverly Hills Private Wealth LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 27.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,935 shares of the information services provider’s stock after buying an additional 4,292 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Alphabet were worth $3,513,000 at the end of the most recent reporting period.

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

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 246,150 shares of company stock worth $55,805,379 over the last quarter. 11.64% of the stock is currently owned by insiders.

Alphabet Stock Up 2.5%

Shares of Alphabet stock 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. The stock has a market capitalization of $3.40 trillion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $291.59. The company has a 50-day simple moving average of $242.49 and a two-hundred day simple moving average of $198.83.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping 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 company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. On average, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research analyst reports. Tigress Financial raised their price objective on shares of Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a report on Friday, September 5th. New Street Research raised their target price on Alphabet from $275.00 to $295.00 in a research note on Friday, October 24th. Oppenheimer raised their target price on Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. DA Davidson raised their price objective on Alphabet from $190.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Westpark Capital raised their price objective on Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target 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.