Liberty Wealth Management LLC Purchases 2,400 Shares of Alphabet Inc. $GOOG

Liberty Wealth Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 15.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,243 shares of the information services provider’s stock after purchasing an additional 2,400 shares during the quarter. Liberty Wealth Management LLC’s holdings in Alphabet were worth $3,236,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. AustralianSuper Pty Ltd increased its stake in Alphabet by 0.3% in the second quarter. AustralianSuper Pty Ltd now owns 57,584 shares of the information services provider’s stock valued at $10,215,000 after acquiring an additional 164 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Alphabet by 10.6% in the second quarter. Teacher Retirement System of Texas now owns 933,283 shares of the information services provider’s stock valued at $165,555,000 after acquiring an additional 89,692 shares during the last quarter. Cobblestone Capital Advisors LLC NY increased its stake in Alphabet by 0.7% in the second quarter. Cobblestone Capital Advisors LLC NY now owns 251,421 shares of the information services provider’s stock valued at $44,600,000 after acquiring an additional 1,833 shares during the last quarter. Oak Grove Capital LLC bought a new position in Alphabet in the second quarter valued at $319,000. Finally, Bessemer Group Inc. increased its stake in Alphabet by 6.3% in the second quarter. Bessemer Group Inc. now owns 11,628,171 shares of the information services provider’s stock valued at $2,062,722,000 after acquiring an additional 690,109 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the transaction, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. 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 quarter. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GOOG shares. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday. DA Davidson set a $825.00 price target on shares of Alphabet in a research report on Monday. Cowen restated a “buy” rating on shares of Alphabet in a research report on Wednesday, October 8th. Jefferies Financial Group upped their price target on shares of Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Finally, KeyCorp set a $265.00 price target on shares of Alphabet in a research report on Wednesday, September 3rd. Five analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $297.56.

Alphabet Stock Performance

Alphabet stock opened at $275.17 on Thursday. 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 firm has a 50-day moving average of $241.46 and a 200-day moving average of $199.27. The firm has a market cap of $3.33 trillion, a P/E ratio of 29.30, a P/E/G ratio of 1.81 and a beta of 1.00. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $275.97.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the company earned $2.12 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

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.