Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Drake & Associates LLC

Drake & Associates LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 21.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,665 shares of the information services provider’s stock after purchasing an additional 657 shares during the period. Drake & Associates LLC’s holdings in Alphabet were worth $443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Castle Rock Wealth Management LLC raised its holdings in Alphabet by 15.3% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 19,928 shares of the information services provider’s stock worth $2,444,000 after purchasing an additional 2,645 shares during the period. Mechanics Bank Trust Department raised its holdings in Alphabet by 8.2% in the 2nd quarter. Mechanics Bank Trust Department now owns 28,911 shares of the information services provider’s stock worth $3,497,000 after purchasing an additional 2,196 shares during the period. Profit Investment Management LLC raised its holdings in Alphabet by 27.0% in the 2nd quarter. Profit Investment Management LLC now owns 5,353 shares of the information services provider’s stock worth $648,000 after purchasing an additional 1,137 shares during the period. Sarasin & Partners LLP raised its holdings in Alphabet by 7.6% in the 2nd quarter. Sarasin & Partners LLP now owns 108,508 shares of the information services provider’s stock worth $13,126,000 after purchasing an additional 7,622 shares during the period. Finally, Sanders Morris Harris LLC acquired a new position in Alphabet in the 2nd quarter worth about $2,517,000. 27.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 3,749 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the transaction, the chief accounting officer now directly owns 25,568 shares in the company, valued at $3,484,407.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Amie Thuener O’toole sold 3,749 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the transaction, the chief accounting officer now directly owns 25,568 shares in the company, valued at $3,484,407.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frances Arnold sold 240 shares of the firm’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $120.02, for a total value of $28,804.80. Following the transaction, the director now owns 13,040 shares of the company’s stock, valued at $1,565,060.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 96,092 shares of company stock worth $12,221,941. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on GOOG. Wedbush began coverage on Alphabet in a report on Monday, August 21st. They issued an “outperform” rating for the company. Susquehanna upped their price target on Alphabet from $120.00 to $150.00 in a report on Wednesday, July 26th. Robert W. Baird increased their target price on Alphabet from $123.00 to $140.00 in a report on Wednesday, July 26th. Finally, Oppenheimer increased their target price on Alphabet from $145.00 to $160.00 in a report on Wednesday, July 26th. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $130.94.

Alphabet Price Performance

GOOG stock opened at $138.96 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. The business has a 50 day simple moving average of $130.22 and a 200-day simple moving average of $118.50. The firm has a market capitalization of $1.75 trillion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 1.60 and a beta of 1.06. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $139.93.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. The business had revenue of $74.60 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.21 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.

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