Redhawk Wealth Advisors Inc. Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

Redhawk Wealth Advisors Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,744 shares of the information services provider’s stock after purchasing an additional 215 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Alphabet were worth $1,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. raised its position in Alphabet by 11.8% during the third quarter. Armstrong Advisory Group Inc. now owns 4,836 shares of the information services provider’s stock valued at $802,000 after purchasing an additional 511 shares during the period. Northcape Capital Pty Ltd raised its position in Alphabet by 3.6% during the third quarter. Northcape Capital Pty Ltd now owns 29,757 shares of the information services provider’s stock valued at $4,935,000 after purchasing an additional 1,037 shares during the period. Sunflower Bank N.A. raised its position in Alphabet by 20.4% during the third quarter. Sunflower Bank N.A. now owns 7,593 shares of the information services provider’s stock valued at $1,259,000 after purchasing an additional 1,284 shares during the period. Sound Income Strategies LLC raised its position in Alphabet by 5.0% during the third quarter. Sound Income Strategies LLC now owns 37,946 shares of the information services provider’s stock valued at $6,293,000 after purchasing an additional 1,792 shares during the period. Finally, Gilman Hill Asset Management LLC raised its position in Alphabet by 66.3% during the third quarter. Gilman Hill Asset Management LLC now owns 9,720 shares of the information services provider’s stock valued at $1,612,000 after purchasing an additional 3,875 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.4 %

Shares of NASDAQ:GOOGL opened at $164.07 on Tuesday. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The business’s fifty day simple moving average is $161.80 and its 200-day simple moving average is $168.35. The company has a market capitalization of $2.03 trillion, a PE ratio of 25.16, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period last year, the business posted $1.44 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GOOGL shares. Mizuho upped their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Wolfe Research began coverage on Alphabet in a research note on Tuesday, July 16th. They set an “outperform” rating and a $240.00 target price on the stock. TD Securities increased their price target on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Wedbush reiterated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Thursday, September 5th. Finally, Argus increased their price target on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock valued at $35,993,340 in the last quarter. 11.55% of the stock is currently owned by corporate insiders.

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