Firethorn Wealth Partners LLC Raises Stake in Alphabet Inc. (NASDAQ:GOOGL)

Firethorn Wealth Partners LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,056 shares of the information services provider’s stock after purchasing an additional 690 shares during the period. Alphabet accounts for about 0.8% of Firethorn Wealth Partners LLC’s holdings, making the stock its 29th biggest holding. Firethorn Wealth Partners LLC’s holdings in Alphabet were worth $1,668,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after purchasing an additional 4,064,073 shares during the period. Capital Research Global Investors grew its holdings in Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after acquiring an additional 7,275,757 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Alphabet by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after purchasing an additional 238,403 shares during the last quarter. Capital World Investors lifted its holdings in Alphabet by 1.7% during the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after buying an additional 597,756 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Alphabet by 1.8% during the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after purchasing an additional 418,204 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, 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. Insiders sold 220,426 shares of company stock worth $35,993,340 over the last three months. 11.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GOOGL shares. Roth Mkm reissued a “buy” rating and issued a $206.00 target price on shares of Alphabet in a report on Thursday, August 29th. Argus lifted their price target on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. The Goldman Sachs Group decreased their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Guggenheim increased their price objective on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Jefferies Financial Group boosted their price objective on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $165.27 on Friday. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The company has a market cap of $2.04 trillion, a price-to-earnings ratio of 25.35, a PEG ratio of 1.21 and a beta of 1.04. The business has a 50 day moving average price of $161.90 and a 200 day moving average price of $168.36. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last issued its 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 return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same period in the prior year, the company posted $1.44 earnings per share. Research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current 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.