BTS Asset Management Inc. Takes $368,000 Position in Alphabet Inc. $GOOGL

BTS Asset Management Inc. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,088 shares of the information services provider’s stock, valued at approximately $368,000. Alphabet makes up 0.4% of BTS Asset Management Inc.’s holdings, making the stock its 19th biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. increased its stake in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares during the last quarter. IMA Advisory Services Inc. acquired a new stake in Alphabet during the first quarter worth $28,000. von Borstel & Associates Inc. acquired a new stake in Alphabet during the first quarter worth $28,000. NBZ Investment Advisors LLC increased its stake in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after acquiring an additional 90 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after acquiring an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. DZ Bank reissued a “buy” rating on shares of Alphabet in a research note on Thursday. JPMorgan Chase & Co. raised their target price on Alphabet from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday. Roth Capital raised their target price on Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Robert W. Baird raised their target price on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Finally, UBS Group reaffirmed a “neutral” rating and issued a $306.00 price objective (up from $255.00) on shares of Alphabet in a research note on Thursday. Three equities 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $302.20.

Alphabet Stock Down 0.1%

Shares of NASDAQ GOOGL opened at $281.31 on Friday. The company has a market capitalization of $3.40 trillion, a price-to-earnings 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. The business has a 50-day moving average of $244.00 and a two-hundred day moving average of $199.98. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $291.59.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares in the company, valued at $3,629,725.80. The trade was a 16.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the transaction, the chief executive officer owned 2,369,619 shares in the company, valued at $592,760,192.85. This trade represents a 1.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 246,150 shares of company stock worth $55,805,379. Corporate insiders own 11.64% of the company’s stock.

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.