Madison Wealth Partners Inc Has $653,000 Stake in Alphabet Inc. $GOOG

Madison Wealth Partners Inc lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 74.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 3,682 shares of the information services provider’s stock after acquiring an additional 1,571 shares during the quarter. Madison Wealth Partners Inc’s holdings in Alphabet were worth $653,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of GOOG. MorganRosel Wealth Management LLC bought a new stake in Alphabet during the 1st quarter valued at $26,000. IFS Advisors LLC grew its position in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares in the last quarter. Robbins Farley grew its position in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC grew its position in Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after acquiring an additional 61 shares in the last quarter. Finally, Fairman Group LLC boosted its position in Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the sale, the director owned 5,116 shares in the company, valued at $1,242,778.72. This represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% 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 valued at $55,805,379. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $252.53 on Thursday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $257.88. The company has a 50 day simple moving average of $235.22 and a two-hundred day simple moving average of $194.81. The company has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 1.70 and a beta of 1.00. 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 (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating 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. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. Analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on GOOG shares. Piper Sandler restated a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Robert W. Baird upped their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Raymond James Financial reaffirmed an “outperform” rating and set a $210.00 price objective (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Scotiabank reaffirmed an “outperform” rating and set a $310.00 price objective on shares of Alphabet in a research note on Thursday, October 16th. Finally, Morgan Stanley upped their price objective on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $246.26.

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.