Bogart Wealth LLC Increases Stock Position in Alphabet Inc. $GOOGL

Bogart Wealth LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 10.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 139,498 shares of the information services provider’s stock after purchasing an additional 13,074 shares during the quarter. Alphabet comprises approximately 1.0% of Bogart Wealth LLC’s holdings, making the stock its 20th largest holding. Bogart Wealth LLC’s holdings in Alphabet were worth $24,584,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of GOOGL. Brighton Jones LLC lifted its stake 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 purchasing an additional 4,110 shares in the last quarter. 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 worth $2,826,000 after buying an additional 506 shares during the last quarter. Diversified Trust Co lifted 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 last quarter. Victrix Investment Advisors lifted 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 last quarter. Finally, Transcend Capital Advisors LLC lifted 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 last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Robert W. Baird increased their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. BNP Paribas Exane increased their price target on shares of Alphabet from $187.00 to $247.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. New Street Research increased their price target on shares of Alphabet from $275.00 to $295.00 in a report on Friday, October 24th. Needham & Company LLC increased their price target on shares of Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a report on Thursday. Finally, DA Davidson increased their price target on shares of Alphabet from $190.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $301.32.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 246,150 shares of company stock valued at $55,805,379. 11.64% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Alphabet stock opened at $281.48 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $291.59. The firm has a market capitalization of $3.40 trillion, a P/E ratio of 27.76, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. The company’s 50-day moving average is $242.49 and its 200 day moving average is $198.83.

Alphabet (NASDAQ:GOOGL) last issued 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. The business 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%. Research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current 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.