Alphabet Inc. $GOOGL Shares Purchased by Chokshi & Queen Wealth Advisors Inc

Chokshi & Queen Wealth Advisors Inc lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 7.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,294 shares of the information services provider’s stock after acquiring an additional 350 shares during the quarter. Alphabet accounts for 0.5% of Chokshi & Queen Wealth Advisors Inc’s holdings, making the stock its 21st biggest position. Chokshi & Queen Wealth Advisors Inc’s holdings in Alphabet were worth $933,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after buying an additional 4,473,901 shares during the period. Invesco Ltd. grew its position in Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after buying an additional 593,345 shares during the period. Deutsche Bank AG grew its position in Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after buying an additional 727,335 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Alphabet by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock valued at $5,962,389,000 after buying an additional 104,859 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of several analyst reports. CIBC raised their price target on shares of Alphabet to $315.00 in a research report on Monday, October 20th. DZ Bank reiterated a “buy” rating on shares of Alphabet in a research report on Thursday. Wolfe Research reiterated an “outperform” rating and issued a $350.00 target price (up previously from $290.00) on shares of Alphabet in a research report on Thursday. KeyCorp reiterated an “overweight” rating and issued a $300.00 target price (up previously from $265.00) on shares of Alphabet in a research report on Monday, October 27th. Finally, Stifel Nicolaus set a $333.00 target price on shares of Alphabet in a research report on Thursday. Three investment 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $302.20.

Alphabet Price Performance

Shares of GOOGL stock opened at $281.31 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. The firm’s 50-day moving average is $244.00 and its two-hundred day moving average is $199.98. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $291.59. The company has a market capitalization 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.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating 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 business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The shares were 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 in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, 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 position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 246,150 shares of company stock worth $55,805,379. Corporate insiders own 11.64% of the company’s stock.

About Alphabet

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.