LifeWealth Investments LLC Raises Holdings in Alphabet Inc. $GOOGL

LifeWealth Investments LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 17.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,895 shares of the information services provider’s stock after buying an additional 1,772 shares during the period. LifeWealth Investments LLC’s holdings in Alphabet were worth $2,096,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 103 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares of the company’s stock, valued at $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 222,330 shares of company stock valued at $51,167,625 in the last quarter. Corporate insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $281.31 on Monday. The stock 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 business has a fifty day simple moving average of $244.00 and a 200-day simple moving average of $200.31. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $291.59.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (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 business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GOOGL shares. CIBC boosted their price objective on Alphabet to $315.00 in a research note on Monday, October 20th. Roth Capital increased their price target on Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Guggenheim increased their price target on Alphabet from $280.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday. Jefferies Financial Group increased their price objective on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday. Finally, New Street Research increased their price target on Alphabet from $275.00 to $295.00 in a research note on Friday, October 24th. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company 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.