Investment Advisory Group LLC Acquires 433 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Investment Advisory Group LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,471 shares of the information services provider’s stock after buying an additional 433 shares during the quarter. Investment Advisory Group LLC’s holdings in Alphabet were worth $907,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Dover Advisors LLC grew its holdings in Alphabet by 8.5% during the third quarter. Dover Advisors LLC now owns 24,679 shares of the information services provider’s stock valued at $4,093,000 after purchasing an additional 1,933 shares during the period. Lockerman Financial Group Inc. raised its stake in shares of Alphabet by 3.1% in the third quarter. Lockerman Financial Group Inc. now owns 3,576 shares of the information services provider’s stock worth $593,000 after buying an additional 106 shares during the period. Cabot Wealth Management Inc. lifted its position in shares of Alphabet by 1.1% during the 3rd quarter. Cabot Wealth Management Inc. now owns 16,349 shares of the information services provider’s stock valued at $2,711,000 after buying an additional 176 shares in the last quarter. RDA Financial Network grew its stake in shares of Alphabet by 2.4% during the 3rd quarter. RDA Financial Network now owns 47,609 shares of the information services provider’s stock valued at $7,896,000 after acquiring an additional 1,126 shares during the period. Finally, Trust Co. of Oklahoma raised its stake in Alphabet by 4.2% during the 3rd quarter. Trust Co. of Oklahoma now owns 38,407 shares of the information services provider’s stock worth $6,370,000 after acquiring an additional 1,537 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Down 1.4 %

Shares of NASDAQ:GOOGL opened at $162.78 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business has a 50 day simple moving average of $161.87 and a two-hundred day simple moving average of $168.40. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The firm has a market capitalization of $2.01 trillion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The company 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 quarter in the prior year, the company posted $1.44 EPS. On average, equities analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on GOOGL shares. Rosenblatt Securities reiterated a “neutral” rating and issued a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. Truist Financial lifted their target price on shares of Alphabet from $196.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Argus increased their price target on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Needham & Company LLC restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Tuesday, October 15th. Finally, Piper Sandler reiterated an “overweight” rating and set a $200.00 target price on shares of Alphabet in a research report on Monday, September 30th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $164.95, for a total transaction of $247,425.00. Following the transaction, the director now owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 16th. The shares were 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 of the company’s stock, valued at $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 220,426 shares of company stock worth $35,993,340. Insiders own 11.55% of the company’s stock.

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.