Hyperion Partners LLC Purchases New Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Hyperion Partners LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,755 shares of the information services provider’s stock, valued at approximately $210,000.

Several other institutional investors have also made changes to their positions in the stock. Modera Wealth Management LLC lifted its stake in Alphabet by 11.4% during the first quarter. Modera Wealth Management LLC now owns 43,230 shares of the information services provider’s stock worth $4,484,000 after purchasing an additional 4,420 shares during the last quarter. Atria Investments Inc lifted its stake in Alphabet by 7.4% during the first quarter. Atria Investments Inc now owns 316,800 shares of the information services provider’s stock worth $32,918,000 after purchasing an additional 21,907 shares during the last quarter. Hallmark Capital Management Inc. lifted its stake in Alphabet by 8.9% during the first quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock worth $17,338,000 after purchasing an additional 13,605 shares during the last quarter. Marcum Wealth LLC lifted its stake in Alphabet by 4.8% during the first quarter. Marcum Wealth LLC now owns 20,372 shares of the information services provider’s stock worth $2,113,000 after purchasing an additional 927 shares during the last quarter. Finally, Soltis Investment Advisors LLC lifted its stake in Alphabet by 17.1% during the first quarter. Soltis Investment Advisors LLC now owns 46,675 shares of the information services provider’s stock worth $4,842,000 after purchasing an additional 6,825 shares during the last quarter. 35.08% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $138.21 on Tuesday. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $139.16. The stock has a market cap of $1.74 trillion, a price-to-earnings ratio of 29.28, a PEG ratio of 1.59 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. The firm’s 50-day simple moving average is $129.60 and its 200 day simple moving average is $117.88.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.12. The business had revenue of $74.60 billion for the quarter, compared to analysts’ expectations of $60.24 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. During the same quarter last year, the firm earned $1.21 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 42,900 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $136.51, for a total value of $5,856,279.00. Following the completion of the sale, the insider now owns 10,383 shares in the company, valued at approximately $1,417,383.33. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Alphabet news, insider John Kent Walker sold 42,900 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $136.51, for a total value of $5,856,279.00. Following the completion of the sale, the insider now owns 10,383 shares in the company, valued at approximately $1,417,383.33. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 31,240 shares of the stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $116.82, for a total transaction of $3,649,456.80. Following the completion of the sale, the director now owns 5,364 shares of the company’s stock, valued at approximately $626,622.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,092 shares of company stock worth $12,221,941. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GOOGL. Royal Bank of Canada upped their price target on shares of Alphabet from $145.00 to $155.00 in a report on Wednesday, July 26th. UBS Group downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and upped their price target for the stock from $123.00 to $132.00 in a report on Monday, June 26th. Truist Financial upped their price target on shares of Alphabet from $122.00 to $160.00 in a report on Wednesday, July 26th. Mizuho upped their price target on shares of Alphabet from $135.00 to $155.00 in a report on Wednesday, July 26th. Finally, Tigress Financial upped their price target on shares of Alphabet from $160.00 to $172.00 and gave the stock a “strong-buy” rating in a report on Friday, July 14th. Four investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.89.

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.