Alphabet Inc. $GOOG Shares Purchased by VestGen Investment Management

VestGen Investment Management boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 5.2% in the second quarter, Holdings Channel.com reports. The firm owned 1,468 shares of the information services provider’s stock after acquiring an additional 72 shares during the quarter. VestGen Investment Management’s holdings in Alphabet were worth $260,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. RDA Financial Network lifted its position in Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after purchasing an additional 554 shares during the period. Bleakley Financial Group LLC lifted its position in Alphabet by 1.4% in the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after purchasing an additional 2,304 shares during the period. Oldfather Financial Services LLC acquired a new stake in Alphabet in the second quarter valued at about $213,000. Tower View Wealth Management LLC increased its holdings in Alphabet by 6.9% in the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after buying an additional 1,776 shares in the last quarter. Finally, Dock Street Asset Management Inc. increased its holdings in Alphabet by 0.8% in the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock valued at $41,563,000 after buying an additional 1,970 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 that occurred 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 sale, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 246,150 shares of company stock valued at $55,805,379 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of research analyst reports. Robert W. Baird increased their target price on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Pivotal Research increased their target price on shares of Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday. Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Five analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $280.45.

Alphabet Trading Down 0.6%

Shares of GOOG opened at $268.43 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a 50 day simple moving average of $239.97 and a 200-day simple moving average of $198.46. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $271.38. The stock has a market cap of $3.25 trillion, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 1.82 and a beta of 1.00.

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.