Magnus Financial Group LLC Purchases 687 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Magnus Financial Group LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,443 shares of the information services provider’s stock after acquiring an additional 687 shares during the quarter. Magnus Financial Group LLC’s holdings in Alphabet were worth $5,381,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. Global Assets Advisory LLC increased its holdings in shares of Alphabet by 15,351.0% during the 1st quarter. Global Assets Advisory LLC now owns 2,304,517 shares of the information services provider’s stock valued at $347,821,000 after acquiring an additional 2,289,602 shares during the last quarter. Financial Synergies Wealth Advisors Inc. boosted its position in Alphabet by 560.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 528 shares of the information services provider’s stock worth $80,000 after purchasing an additional 448 shares during the period. Perkins Coie Trust Co boosted its position in Alphabet by 0.8% during the first quarter. Perkins Coie Trust Co now owns 66,940 shares of the information services provider’s stock worth $10,103,000 after purchasing an additional 541 shares during the period. Capital Planning LLC acquired a new position in Alphabet in the 1st quarter valued at $412,000. Finally, BlueSky Wealth Advisors LLC lifted its position in Alphabet by 4.9% during the 1st quarter. BlueSky Wealth Advisors LLC now owns 7,519 shares of the information services provider’s stock worth $1,135,000 after acquiring an additional 350 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. 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 the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 220,426 shares of company stock valued at $35,993,340. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 1.4 %

NASDAQ:GOOGL opened at $162.78 on Thursday. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The stock has a 50-day moving average price of $161.87 and a two-hundred day moving average price of $168.40. The stock has a market cap of $2.01 trillion, a price-to-earnings ratio of 24.97, a PEG ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during 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 in the previous year, the firm earned $1.44 EPS. As a group, equities analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Guggenheim raised their target price on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Piper Sandler restated an “overweight” rating and set a $200.00 price objective on shares of Alphabet in a research report on Monday, September 30th. Loop Capital restated a “hold” rating and set a $170.00 price target on shares of Alphabet in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. upped their price target on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group cut their target price on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Eight equities 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 has an average rating of “Moderate Buy” and a consensus target price 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.