Boomfish Wealth Group LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Boomfish Wealth Group LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,167 shares of the information services provider’s stock after purchasing an additional 100 shares during the quarter. Boomfish Wealth Group LLC’s holdings in Alphabet were worth $359,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. New Hampshire Trust lifted its position in shares of Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after buying an additional 1,132 shares in the last quarter. Berkshire Money Management Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $359,000. Schneider Downs Wealth Management Advisors LP raised its holdings in shares of Alphabet by 58.4% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after acquiring an additional 2,351 shares in the last quarter. Trinity Financial Advisors LLC boosted its position in shares of Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after acquiring an additional 190 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. grew its holdings in shares of Alphabet by 0.7% in 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 in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on GOOGL. The Goldman Sachs Group lowered their price objective on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Bank of America increased their price target on shares of Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Royal Bank of Canada boosted their price objective on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Morgan Stanley lowered their price objective on Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Finally, Piper Sandler reissued an “overweight” rating and set a $200.00 target price on shares of Alphabet in a research report on Monday, September 30th. Eight research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $201.76.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This 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 worth $35,993,340 in the last ninety days. 11.55% of the stock is owned by insiders.

Alphabet Price Performance

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 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. The business’s 50-day moving average is $161.87 and its two-hundred day moving average is $168.40. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business 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 period in the prior year, the firm posted $1.44 earnings per share. Research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

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.