Element Wealth LLC Grows Position in Alphabet Inc. (NASDAQ:GOOG)

Element Wealth LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 12.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,472 shares of the information services provider’s stock after buying an additional 275 shares during the quarter. Element Wealth LLC’s holdings in Alphabet were worth $413,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Abich Financial Wealth Management LLC raised its position in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet during the 2nd quarter valued at $37,000. HWG Holdings LP purchased a new stake in shares of Alphabet during the 2nd quarter valued at $40,000. Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet during the 2nd quarter valued at $44,000. Finally, Hoese & Co LLP increased its position in shares of Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the sale, the director now owns 28,524 shares of the company’s stock, valued at $4,385,565. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock worth $35,993,340 in the last quarter. 12.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Pivotal Research assumed coverage on Alphabet in a research report on Tuesday, October 1st. They set a “buy” rating and a $215.00 target price for the company. UBS Group decreased their target price on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $186.90.

Alphabet Stock Up 1.5 %

Shares of NASDAQ GOOG opened at $166.99 on Friday. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The business has a 50-day simple moving average of $163.31 and a two-hundred day simple moving average of $169.88. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.06 trillion, a P/E ratio of 25.61, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter last year, the company earned $1.44 EPS. The firm’s revenue was up 13.6% compared to the same quarter last year. Research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet 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.