Koshinski Asset Management Inc. Boosts Stake in Alphabet Inc. $GOOG

Koshinski Asset Management Inc. increased its position in Alphabet Inc. (NASDAQ:GOOG) by 2.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 30,551 shares of the information services provider’s stock after purchasing an additional 843 shares during the period. Koshinski Asset Management Inc.’s holdings in Alphabet were worth $5,419,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GOOG. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet in the 1st quarter valued at about $26,000. IFS Advisors LLC lifted its holdings in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley lifted its holdings in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC raised its stake in Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares during the last quarter. Finally, Fairman Group LLC raised its stake in Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the subject of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Mizuho raised Alphabet to a “strong-buy” rating in a research note on Monday, September 29th. UBS Group set a $255.00 price objective on Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 9th. Robert W. Baird upped their price objective on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $246.26.

Alphabet Stock Performance

NASDAQ GOOG opened at $257.02 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $233.29 and its two-hundred day moving average is $194.01. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $257.88. The stock has a market capitalization of $3.11 trillion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.72 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the previous year, the firm posted $1.89 EPS. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Insiders Place Their Bets

In related news, Director Frances Arnold sold 103 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director owned 17,284 shares in the company, valued at $4,202,258.92. This represents a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 246,150 shares of company stock worth $55,805,379. 12.99% of the stock is owned by insiders.

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.