Strategic Blueprint LLC Raises Stock Holdings in Alphabet Inc. $GOOGL

Strategic Blueprint LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 73,075 shares of the information services provider’s stock after buying an additional 1,715 shares during the quarter. Strategic Blueprint LLC’s holdings in Alphabet were worth $12,878,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Principle Wealth Partners LLC raised its holdings in shares of Alphabet by 4.8% in the second quarter. Principle Wealth Partners LLC now owns 94,138 shares of the information services provider’s stock worth $16,590,000 after buying an additional 4,332 shares during the period. Red Crane Wealth Management LLC grew its stake in Alphabet by 20.4% in the second quarter. Red Crane Wealth Management LLC now owns 1,659 shares of the information services provider’s stock worth $292,000 after purchasing an additional 281 shares in the last quarter. Farley Capital L.P. grew its stake in Alphabet by 31.6% in the second quarter. Farley Capital L.P. now owns 13,212 shares of the information services provider’s stock worth $2,328,000 after purchasing an additional 3,173 shares in the last quarter. Sonata Capital Group Inc. grew its stake in Alphabet by 11.1% in the second quarter. Sonata Capital Group Inc. now owns 2,712 shares of the information services provider’s stock worth $478,000 after purchasing an additional 272 shares in the last quarter. Finally, Clifford Swan Investment Counsel LLC grew its stake in Alphabet by 0.8% in the second quarter. Clifford Swan Investment Counsel LLC now owns 431,377 shares of the information services provider’s stock worth $76,022,000 after purchasing an additional 3,584 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOGL opened at $281.31 on Monday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $291.59. The stock has a fifty day moving average price of $244.00 and a 200-day moving average price of $200.31. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.40 trillion, a PE ratio of 27.74, a P/E/G ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating 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 firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction on Monday, September 29th. The stock was 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 owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director owned 6,916 shares of the company’s stock, valued at $1,383,200. The trade was a 12.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 222,330 shares of company stock worth $51,167,625. Insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GOOGL. Rosenblatt Securities increased their price objective on Alphabet from $224.00 to $279.00 and gave the stock a “neutral” rating in a research note on Thursday. Robert W. Baird increased their price objective on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Cantor Fitzgerald increased their price objective on Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a research note 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 research note on Thursday. Finally, CIBC increased their target price on Alphabet to $315.00 in a research report on Monday, October 20th. Three investment 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’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target 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.