LGT Financial Advisors LLC Has $190,000 Stock Holdings in Alphabet Inc. $GOOGL

LGT Financial Advisors LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,079 shares of the information services provider’s stock after acquiring an additional 66 shares during the quarter. LGT Financial Advisors LLC’s holdings in Alphabet were worth $190,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Mystic Asset Management Inc. grew its holdings in shares of Alphabet by 6.7% during 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 grew its holdings in shares of Alphabet by 0.3% during 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 grew its holdings in shares of Alphabet by 4.1% during 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 grew its holdings in shares of Alphabet by 17.9% during 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 grew its holdings in shares of Alphabet by 1.1% during 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. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GOOGL shares. Wells Fargo & Company increased their price objective on Alphabet from $236.00 to $268.00 and gave the stock an “equal weight” rating in a report on Thursday. Evercore ISI increased their price objective on shares of Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday. Morgan Stanley increased their price objective on shares of Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday. Piper Sandler restated an “overweight” rating and set a $330.00 price objective (up from $285.00) on shares of Alphabet in a research note on Thursday. Finally, Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $301.98.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at $598,149,304. This represents a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 246,150 shares of company stock worth $55,805,379. 11.64% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $281.31 on Friday. The firm has a 50-day moving average of $244.00 and a 200-day moving average of $199.68. Alphabet Inc. has a one year low of $140.53 and a one year high of $291.59. The company has a market cap of $3.40 trillion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. 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 (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. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

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.