Alphabet Inc. $GOOGL Shares Purchased by MN Wealth Advisors LLC

MN Wealth Advisors LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 12.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,070 shares of the information services provider’s stock after acquiring an additional 1,026 shares during the period. Alphabet makes up 0.9% of MN Wealth Advisors LLC’s portfolio, making the stock its 23rd biggest position. MN Wealth Advisors LLC’s holdings in Alphabet were worth $1,598,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Guardian Wealth Management Inc. lifted its stake in shares of Alphabet by 242.9% during the first 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. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet during the 1st quarter valued at about $28,000. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet during the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC lifted its position 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 acquiring an additional 90 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. boosted its holdings in Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after acquiring an additional 67 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Down 2.2%

Shares of Alphabet stock opened at $277.54 on Wednesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.36 trillion, a P/E ratio of 27.37, a P/E/G ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $291.59. The business has a 50-day moving average price of $246.91 and a 200 day moving average price of $202.13.

Alphabet (NASDAQ:GOOGL) last released its earnings results 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. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

GOOGL has been the topic of a number of recent research reports. Oppenheimer boosted their target price on shares of Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Barclays reaffirmed an “overweight” rating and set a $315.00 price target (up previously from $250.00) on shares of Alphabet in a research note on Thursday, October 30th. Bank of America upped their price objective on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Mizuho set a $325.00 target price on Alphabet in a research report on Thursday, October 30th. Finally, Loop Capital increased their price target on Alphabet from $190.00 to $260.00 and gave the company a “hold” rating in a report on Friday, October 24th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $303.09.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John L. Hennessy sold 1,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the sale, the director directly owned 6,916 shares in the company, valued at $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 190,896 shares of company stock valued at $45,092,175. Company insiders own 11.64% of the company’s stock.

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.