Level Financial Advisors Purchases Shares of 2,828 Alphabet Inc. (NASDAQ:GOOGL)

Level Financial Advisors acquired a new position in Alphabet Inc. (NASDAQ:GOOGL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,828 shares of the information services provider’s stock, valued at approximately $469,000.

Other hedge funds have also recently made changes to their positions in the company. First Affirmative Financial Network grew its holdings in Alphabet by 74.6% in the third quarter. First Affirmative Financial Network now owns 18,525 shares of the information services provider’s stock worth $3,072,000 after purchasing an additional 7,917 shares during the period. RFG Holdings Inc. raised its holdings in Alphabet by 8.8% during the third quarter. RFG Holdings Inc. now owns 1,862 shares of the information services provider’s stock worth $309,000 after buying an additional 151 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its stake in shares of Alphabet by 0.9% in the third quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 62,931 shares of the information services provider’s stock valued at $10,437,000 after buying an additional 574 shares in the last quarter. Mendota Financial Group LLC lifted its stake in shares of Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after buying an additional 64 shares in the last quarter. Finally, Peak Financial Advisors LLC acquired a new position in shares of Alphabet during the third quarter valued at about $3,200,000. 40.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GOOGL has been the topic of several recent research reports. Royal Bank of Canada raised their price target on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Bank of America upped their price target on Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. JMP Securities restated a “market outperform” rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, September 25th. Finally, Mizuho upped their target price on shares of Alphabet from $205.00 to $210.00 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 issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $163.42 on Monday. The company has a 50 day moving average of $161.77 and a 200 day moving average of $168.25. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.02 trillion, a P/E ratio of 25.06, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same period in the previous year, the business earned $1.44 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock valued at $35,993,340 in the last 90 days. Corporate insiders own 11.55% of the company’s stock.

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.