Reliant Investment Management LLC Buys 535 Shares of Alphabet Inc. $GOOGL

Reliant Investment Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 51,787 shares of the information services provider’s stock after buying an additional 535 shares during the period. Alphabet makes up approximately 4.0% of Reliant Investment Management LLC’s holdings, making the stock its 4th biggest holding. Reliant Investment Management LLC’s holdings in Alphabet were worth $9,126,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GOOGL. Brighton Jones LLC raised its holdings in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares during the last quarter. Buttonwood Financial Advisors Inc. raised its holdings in shares of Alphabet by 5.9% in the first quarter. Buttonwood Financial Advisors Inc. now owns 67,903 shares of the information services provider’s stock valued at $10,501,000 after purchasing an additional 3,771 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Alphabet by 1.8% in the first quarter. Amalgamated Bank now owns 1,281,303 shares of the information services provider’s stock valued at $198,141,000 after purchasing an additional 22,700 shares during the last quarter. Finally, Albion Financial Group UT raised its holdings in shares of Alphabet by 0.6% in the first quarter. Albion Financial Group UT now owns 264,213 shares of the information services provider’s stock valued at $40,858,000 after purchasing an additional 1,691 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Down 0.1%

GOOGL stock opened at $281.31 on Monday. 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 company has a fifty day moving average price of $244.00 and a two-hundred day moving average price of $200.31. Alphabet Inc. has a one year low of $140.53 and a one year high of $291.59. The stock has a market cap 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.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping 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 firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director directly owned 6,916 shares of the company’s stock, valued at $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following 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 SEC filing for this sale provides additional information. In the last three months, insiders sold 222,330 shares of company stock valued at $51,167,625. 11.64% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Susquehanna lifted their price objective on shares of Alphabet from $225.00 to $350.00 and gave the company a “positive” rating in a report on Thursday. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $260.00 to $305.00 and gave the company a “market perform” rating in a report on Thursday. Jefferies Financial Group lifted their price objective on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company boosted their target price on shares of Alphabet from $236.00 to $268.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Roth Capital boosted their target price on shares of Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $302.20.

Alphabet Company 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.