McGlone Suttner Wealth Management Inc. Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

McGlone Suttner Wealth Management Inc. grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,031 shares of the information services provider’s stock after purchasing an additional 1,680 shares during the quarter. Alphabet makes up about 0.6% of McGlone Suttner Wealth Management Inc.’s holdings, making the stock its 21st largest position. McGlone Suttner Wealth Management Inc.’s holdings in Alphabet were worth $2,990,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Christopher J. Hasenberg Inc grew its holdings in shares of Alphabet by 75.0% during the second 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 last quarter. Kings Path Partners LLC purchased a new position in shares of Alphabet during the second quarter worth about $36,000. Tributary Capital Management LLC purchased a new position in shares of Alphabet during the first quarter worth about $30,000. Denver PWM LLC acquired a new stake in shares of Alphabet during the second quarter worth about $41,000. Finally, Quarry LP acquired a new stake in shares of Alphabet during the second quarter worth about $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.4 %

Shares of NASDAQ GOOGL opened at $164.07 on Tuesday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock 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 firm has a fifty day moving average of $161.80 and a 200-day moving average of $168.35. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates 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 company posted $1.44 EPS. On average, analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction on Friday, August 16th. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the transaction, the director now owns 29,324 shares in the company, valued at approximately $4,838,460. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 220,426 shares of company stock valued at $35,993,340. 11.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GOOGL shares. Mizuho increased 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. DA Davidson started coverage on shares of Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price for the company. Rosenblatt Securities reiterated a “neutral” rating and set a $181.00 target price on shares of Alphabet in a research note on Wednesday, July 24th. Wolfe Research assumed coverage on shares of Alphabet in a research note on Tuesday, July 16th. They set an “outperform” rating and a $240.00 target price for the company. Finally, Evercore ISI reduced their price objective on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.