Partnership Wealth Management LLC Acquires 231 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Partnership Wealth Management LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 40.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 801 shares of the information services provider’s stock after purchasing an additional 231 shares during the period. Partnership Wealth Management LLC’s holdings in Alphabet were worth $133,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. StoneCrest Wealth Management Inc. lifted its position in Alphabet by 0.7% during the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after purchasing an additional 140 shares during the period. Sovereign Financial Group Inc. raised its stake in Alphabet by 0.6% during the 3rd quarter. Sovereign Financial Group Inc. now owns 37,215 shares of the information services provider’s stock valued at $6,172,000 after buying an additional 205 shares during the last quarter. Strategic Wealth Partners Ltd. lifted its holdings in shares of Alphabet by 9.8% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 81,302 shares of the information services provider’s stock valued at $13,484,000 after buying an additional 7,247 shares during the period. Rockingstone Advisors LLC boosted its stake in shares of Alphabet by 1.2% in the 3rd quarter. Rockingstone Advisors LLC now owns 27,126 shares of the information services provider’s stock worth $4,499,000 after buying an additional 323 shares during the last quarter. Finally, Marquette Asset Management LLC grew its holdings in shares of Alphabet by 24.9% in the third quarter. Marquette Asset Management LLC now owns 7,420 shares of the information services provider’s stock worth $1,231,000 after acquiring an additional 1,480 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the sale, the chief executive officer now owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,426 shares of company stock worth $35,993,340. Corporate insiders own 11.55% of the company’s stock.

Alphabet Trading Down 1.4 %

GOOGL stock opened at $162.93 on Friday. The firm has a fifty day moving average price of $161.77 and a 200 day moving average price of $168.01. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The firm has a market cap of $2.01 trillion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period last year, the company posted $1.44 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Rosenblatt Securities reissued a “neutral” rating and issued a $181.00 target price on shares of Alphabet in a report on Wednesday, July 24th. Argus increased their price objective on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Roth Mkm restated a “buy” rating and set a $206.00 target price on shares of Alphabet in a research report on Thursday, August 29th. Guggenheim increased their price target on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada lifted their price target on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Company 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.