Alphabet Inc. (NASDAQ:GOOG) Stake Boosted by LexAurum Advisors LLC

LexAurum Advisors LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,107 shares of the information services provider’s stock after purchasing an additional 245 shares during the quarter. LexAurum Advisors LLC’s holdings in Alphabet were worth $2,115,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Weiss Asset Management LP bought a new stake in Alphabet in the third quarter valued at $25,000. Safe Harbor Fiduciary LLC bought a new stake in Alphabet in the third quarter valued at $33,000. HWG Holdings LP bought a new stake in Alphabet in the second quarter valued at $40,000. Sanctuary Wealth Management L.L.C. lifted its stake in Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares during the last quarter. Finally, Iron Horse Wealth Management LLC lifted its stake in Alphabet by 32.3% in the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after buying an additional 84 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent research reports. Oppenheimer raised their target price on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Citigroup lifted their price objective on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $205.13.

Insider Buying and Selling

In related news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 133,387 shares of company stock valued at $24,368,654. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

NASDAQ:GOOG opened at $201.90 on Monday. The business’s 50-day moving average price is $187.95 and its 200 day moving average price is $175.21. The firm has a market cap of $2.47 trillion, a P/E ratio of 26.78, a PEG ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $203.84. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

About Alphabet

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.