Angeles Wealth Management LLC Acquires 1,008 Shares of Alphabet Inc. $GOOG

Angeles Wealth Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.5% during the second quarter, Holdings Channel reports. The fund owned 40,892 shares of the information services provider’s stock after purchasing an additional 1,008 shares during the period. Alphabet makes up 0.5% of Angeles Wealth Management LLC’s holdings, making the stock its 24th largest holding. Angeles Wealth Management LLC’s holdings in Alphabet were worth $7,254,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares during the period. Kingstone Capital Partners Texas LLC increased its position in Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after buying an additional 135,064,454 shares during the period. JPMorgan Chase & Co. increased its position in Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after buying an additional 9,243,959 shares during the period. Deutsche Bank AG increased its position in Alphabet by 5.4% during the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock worth $3,334,852,000 after buying an additional 1,098,996 shares during the period. Finally, Invesco Ltd. increased its position in Alphabet by 2.2% during the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock worth $3,183,979,000 after buying an additional 440,526 shares during the period. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several recent research reports. Morgan Stanley increased their price objective on Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Raymond James Financial reiterated an “outperform” rating and set a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Jefferies Financial Group increased their price objective on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Finally, Mizuho upgraded Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $244.68.

Alphabet Stock Up 0.8%

Shares of NASDAQ GOOG opened at $253.79 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $257.58. The stock has a market capitalization of $3.07 trillion, a P/E ratio of 27.03, a PEG ratio of 1.72 and a beta of 1.00. The stock’s fifty day moving average is $232.18 and its 200 day moving average is $193.25.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter last year, the business earned $1.89 earnings per share. Alphabet’s revenue was up 13.8% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 953 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total value of $229,863.60. Following the sale, the chief accounting officer directly owned 17,294 shares of the company’s stock, valued at $4,171,312.80. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 243,372 shares of company stock valued at $55,110,740 over the last ninety days. 12.99% of the stock is owned by insiders.

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.