Financial Architects Inc Increases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Financial Architects Inc grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,513 shares of the information services provider’s stock after purchasing an additional 55 shares during the period. Financial Architects Inc’s holdings in Alphabet were worth $3,791,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Tandem Investment Advisors Inc. boosted its stake in shares of Alphabet by 2.9% in the second quarter. Tandem Investment Advisors Inc. now owns 140 shares of the information services provider’s stock valued at $351,000 after buying an additional 4 shares in the last quarter. Resonant Capital Advisors LLC raised its position in Alphabet by 0.3% in the second quarter. Resonant Capital Advisors LLC now owns 1,385 shares of the information services provider’s stock worth $3,471,000 after acquiring an additional 4 shares in the last quarter. Well Done LLC raised its position in Alphabet by 2.2% in the second quarter. Well Done LLC now owns 188 shares of the information services provider’s stock worth $471,000 after acquiring an additional 4 shares in the last quarter. Mattern Wealth Management LLC raised its position in Alphabet by 3.9% in the second quarter. Mattern Wealth Management LLC now owns 106 shares of the information services provider’s stock worth $280,000 after acquiring an additional 4 shares in the last quarter. Finally, Wade Financial Advisory Inc raised its position in Alphabet by 1.5% in the second quarter. Wade Financial Advisory Inc now owns 273 shares of the information services provider’s stock worth $684,000 after acquiring an additional 4 shares in the last quarter. 31.55% of the stock is owned by institutional investors and hedge funds.

Several research analysts have issued reports on GOOG shares. Piper Sandler increased their price objective on Alphabet from $2,635.00 to $3,034.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 28th. Truist increased their price objective on Alphabet from $2,800.00 to $3,100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Wolfe Research increased their price objective on Alphabet from $2,900.00 to $3,400.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. Needham & Company LLC increased their price objective on Alphabet from $2,700.00 to $3,200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Finally, Sanford C. Bernstein raised their price target on Alphabet from $3,000.00 to $3,200.00 and gave the company an “outperform” rating in a research report on Wednesday, July 28th. Three research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Buy” and an average target price of $3,087.17.

NASDAQ:GOOG traded down $10.88 during mid-day trading on Wednesday, reaching $2,857.24. The company’s stock had a trading volume of 25,361 shares, compared to its average volume of 1,313,009. The company’s fifty day simple moving average is $2,761.21 and its two-hundred day simple moving average is $2,467.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.15 and a quick ratio of 3.14. Alphabet Inc. has a twelve month low of $1,406.55 and a twelve month high of $2,936.41. The stock has a market cap of $1.91 trillion, a P/E ratio of 31.09, a P/E/G ratio of 1.85 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, July 26th. The information services provider reported $27.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $19.89 by $7.37. Alphabet had a return on equity of 27.87% and a net margin of 28.57%. The firm had revenue of $61.88 billion for the quarter, compared to analyst estimates of $56.08 billion. During the same period last year, the company earned $10.13 EPS. The firm’s quarterly revenue was up 61.6% on a year-over-year basis. Sell-side analysts expect that Alphabet Inc. will post 101.86 EPS for the current fiscal year.

In related news, Director Sergey Brin sold 13,889 shares of the firm’s stock in a transaction dated Thursday, September 9th. The stock was sold at an average price of $2,876.30, for a total transaction of $39,948,930.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 48 shares of the firm’s stock in a transaction dated Thursday, July 1st. The shares were sold at an average price of $2,496.99, for a total value of $119,855.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 461,489 shares of company stock worth $325,800,236. 12.99% of the stock is owned by corporate insiders.

Alphabet Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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