Axiom Financial Strategies LLC Invests $274,000 in Alphabet Inc. $GOOGL

Axiom Financial Strategies LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 1,552 shares of the information services provider’s stock, valued at approximately $274,000.

Several other institutional investors also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. grew its position in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares during the period. von Borstel & Associates Inc. bought a new position in shares of Alphabet during the 1st quarter valued at about $28,000. IMA Advisory Services Inc. acquired a new stake in Alphabet during the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC raised its holdings in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet during the 1st quarter worth approximately $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 222,330 shares of company stock valued at $51,167,625 over the last three months. Corporate insiders own 11.64% of the company’s stock.

Alphabet Trading Down 0.1%

NASDAQ GOOGL opened at $281.31 on Monday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $291.59. The stock has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.86 and a beta of 1.00. 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’s 50 day moving average price is $244.00 and its two-hundred day moving average price is $200.31.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate 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. As a group, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Mizuho set a $325.00 target price on shares of Alphabet in a report on Thursday. Truist Financial raised their target price on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday. KeyCorp restated an “overweight” rating and set a $300.00 target price (up from $265.00) on shares of Alphabet in a report on Monday, October 27th. Rosenblatt Securities raised their target price on shares of Alphabet from $224.00 to $279.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Morgan Stanley raised their target price on shares of Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $302.20.

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.