Cliftonlarsonallen Wealth Advisors LLC Purchases 4,811 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cliftonlarsonallen Wealth Advisors LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 27.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,355 shares of the information services provider’s stock after purchasing an additional 4,811 shares during the period. Cliftonlarsonallen Wealth Advisors LLC’s holdings in Alphabet were worth $3,708,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Christopher J. Hasenberg Inc grew its position in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the period. Tributary Capital Management LLC purchased a new position in shares of Alphabet during the 1st quarter worth $30,000. Kings Path Partners LLC bought a new stake in shares of Alphabet during the 2nd quarter valued at $36,000. Denver PWM LLC purchased a new stake in shares of Alphabet in the 2nd quarter worth $41,000. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares in the company, valued at approximately $4,927,257.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock worth $35,993,340 in the last three months. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group dropped their price target 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. Truist Financial increased their price target on Alphabet from $196.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. DA Davidson started coverage on Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective on the stock. Tigress Financial increased their target price on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a report on Monday, October 7th. Eight 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $162.78 on Thursday. The firm has a 50 day moving average of $161.87 and a 200 day moving average of $168.40. 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 company has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued 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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the prior year, the business posted $1.44 EPS. On average, sell-side analysts predict 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.