Forvis Mazars Wealth Advisors LLC Has $3.96 Million Position in Alphabet Inc. $GOOG

Forvis Mazars Wealth Advisors LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,301 shares of the information services provider’s stock after buying an additional 447 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Alphabet were worth $3,956,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. IFS Advisors LLC increased its position in Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares in the last quarter. Robbins Farley increased its position in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares in the last quarter. WestEnd Advisors LLC increased its position in Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new position in Alphabet during the 1st quarter worth approximately $26,000. Finally, Fairman Group LLC increased its position in Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $251.34 on Wednesday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $257.88. The firm has a fifty day simple moving average of $234.23 and a 200 day simple moving average of $194.41. The company has a market capitalization of $3.04 trillion, a PE ratio of 26.77, a P/E/G ratio of 1.74 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

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

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent research reports. Mizuho upgraded shares of Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Robert W. Baird raised their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Lake Street Capital reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Six 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’s stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $246.26.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the sale, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock valued at $55,805,379 over the last quarter. Insiders own 12.99% of the company’s stock.

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.