Paragon Advisors LLC Buys 26,921 Shares of Alphabet Inc. $GOOGL

Paragon Advisors LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 104.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 52,610 shares of the information services provider’s stock after buying an additional 26,921 shares during the period. Alphabet makes up approximately 2.4% of Paragon Advisors LLC’s holdings, making the stock its 8th biggest holding. Paragon Advisors LLC’s holdings in Alphabet were worth $9,272,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Guardian Wealth Management Inc. increased 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 worth $26,000 after purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. bought a new position in Alphabet during the 1st quarter worth about $28,000. IMA Advisory Services Inc. bought a new position in Alphabet during the 1st quarter worth about $28,000. NBZ Investment Advisors LLC increased 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 purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet during the 1st quarter worth about $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Down 0.1%

Shares of NASDAQ:GOOGL opened at $281.31 on Monday. The company has a 50-day simple moving average of $244.00 and a 200 day simple moving average of $200.31. 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 company has a market capitalization of $3.40 trillion, a P/E ratio of 27.74, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $291.59.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share 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. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% 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.

Analyst Ratings Changes

A number of equities analysts have issued reports on GOOGL shares. Wall Street Zen upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Saturday. BMO Capital Markets set a $294.00 target price on Alphabet and gave the stock an “outperform” rating in a report on Thursday, October 9th. DZ Bank reiterated a “buy” rating on shares of Alphabet in a report on Thursday. Oppenheimer increased their target price on Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Finally, Jefferies Financial Group increased their price objective on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday. Three investment 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. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $302.20.

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.