Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Drake & Associates LLC

Drake & Associates LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 21.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,665 shares of the information services provider’s stock after acquiring an additional 657 shares during the period. Drake & Associates LLC’s holdings in Alphabet were worth $443,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GOOG. Mark Sheptoff Financial Planning LLC grew its stake in shares of Alphabet by 142.9% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 340 shares of the information services provider’s stock valued at $35,000 after buying an additional 200 shares during the period. Milestone Wealth LLC grew its stake in shares of Alphabet by 1,900.0% during the 3rd quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock valued at $37,000 after buying an additional 361 shares during the period. Bbjs Financial Advisors LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at $48,000. GW&K Investment Management LLC purchased a new stake in shares of Alphabet during the 1st quarter valued at $50,000. Finally, Schubert & Co grew its stake in shares of Alphabet by 54.7% during the 1st quarter. Schubert & Co now owns 498 shares of the information services provider’s stock valued at $52,000 after buying an additional 176 shares during the period. 27.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GOOG. Wedbush began coverage on shares of Alphabet in a research note on Monday, August 21st. They set an “outperform” rating for the company. Susquehanna upped their price target on shares of Alphabet from $120.00 to $150.00 in a research report on Wednesday, July 26th. Robert W. Baird upped their price target on shares of Alphabet from $123.00 to $140.00 in a research report on Wednesday, July 26th. Finally, Oppenheimer upped their price target on shares of Alphabet from $145.00 to $160.00 in a research report on Wednesday, July 26th. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet has an average rating of “Buy” and a consensus price target of $130.94.

Insider Activity

In other news, Director Ann Mather sold 380 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $121.42, for a total value of $46,139.60. Following the sale, the director now owns 4,700 shares in the company, valued at approximately $570,674. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Ann Mather sold 380 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $121.42, for a total value of $46,139.60. Following the sale, the director now owns 4,700 shares in the company, valued at approximately $570,674. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now owns 127,028 shares in the company, valued at approximately $15,282,738.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,092 shares of company stock worth $12,221,941. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

NASDAQ:GOOG opened at $138.96 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. The firm has a 50-day moving average of $130.22 and a two-hundred day moving average of $118.50. The stock has a market cap of $1.75 trillion, a P/E ratio of 29.44, a PEG ratio of 1.60 and a beta of 1.06. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $139.93.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. The company had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.21 EPS. On average, research analysts expect that Alphabet Inc. will post 5.68 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.