Alliance Wealth Advisors LLC UT Increases Stake in Alphabet Inc. (NASDAQ:GOOG)

Alliance Wealth Advisors LLC UT lifted its holdings in Alphabet Inc. (NASDAQ:GOOGFree Report) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,888 shares of the information services provider’s stock after purchasing an additional 1,699 shares during the quarter. Alphabet accounts for about 1.9% of Alliance Wealth Advisors LLC UT’s investment portfolio, making the stock its 7th biggest holding. Alliance Wealth Advisors LLC UT’s holdings in Alphabet were worth $5,259,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tandem Wealth Advisors LLC purchased a new position in shares of Alphabet in the 3rd quarter worth $25,000. HWG Holdings LP purchased a new position in Alphabet in the second quarter worth about $26,000. OLD Point Trust & Financial Services N A bought a new stake in Alphabet during the second quarter valued at approximately $31,000. Intrepid Capital Management Inc. bought a new position in Alphabet in the 2nd quarter worth $31,000. Finally, Buck Wealth Strategies LLC bought a new stake in Alphabet during the third quarter valued at about $32,000. 27.13% of the stock is owned by institutional investors.

Alphabet Stock Performance

NASDAQ GOOG opened at $149.45 on Monday. The business’s 50 day moving average price is $142.15 and its 200-day moving average price is $136.93. Alphabet Inc. has a fifty-two week low of $88.86 and a fifty-two week high of $155.20. The company has a market cap of $1.87 trillion, a P/E ratio of 25.90, a P/E/G ratio of 1.39 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. During the same period in the previous year, the firm earned $1.05 earnings per share. Alphabet’s quarterly revenue was up 13.5% compared to the same quarter last year. Sell-side analysts predict that Alphabet Inc. will post 6.76 earnings per share for the current year.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $136.40, for a total value of $31,372.00. Following the completion of the sale, the director now owns 14,515 shares of the company’s stock, valued at $1,979,846. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $136.40, for a total value of $31,372.00. Following the transaction, the director now owns 14,515 shares of the company’s stock, valued at approximately $1,979,846. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 420 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $133.32, for a total value of $55,994.40. Following the completion of the sale, the chief accounting officer now owns 26,833 shares in the company, valued at approximately $3,577,375.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,974 shares of company stock worth $19,427,217. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Susquehanna raised their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Raymond James boosted their price objective on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Finally, Oppenheimer reiterated an “outperform” rating and set a $160.00 target price on shares of Alphabet in a research report on Wednesday, October 25th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $146.33.

Check Out Our Latest Analysis on GOOG

Alphabet Profile

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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