Accelerate Investment Advisors LLC Acquires Shares of 2,649 Alphabet Inc. (NASDAQ:GOOGL)

Accelerate Investment Advisors LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,649 shares of the information services provider’s stock, valued at approximately $439,000.

Several other large investors have also bought and sold shares of the stock. Christopher J. Hasenberg Inc raised its stake in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. Tributary Capital Management LLC bought a new stake in shares of Alphabet during the 1st quarter worth $30,000. Kings Path Partners LLC bought a new stake in shares of Alphabet during the 2nd quarter worth $36,000. Denver PWM LLC bought a new stake in shares of Alphabet during the 2nd quarter worth $41,000. Finally, CarsonAllaria Wealth Management Ltd. raised its stake in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $165.14 on Wednesday. The business has a 50 day moving average of $161.82 and a 200 day moving average of $168.44. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.33, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during 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 quarter in the previous year, the company posted $1.44 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the sale, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the sale, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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. 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 worth $35,993,340 in the last quarter. 11.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent analyst reports. Argus lifted their target price on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Scotiabank raised Alphabet to a “strong-buy” rating in a report on Friday, October 11th. TD Securities lifted their price objective on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Guggenheim lifted their price objective on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.76.

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.