Earned Wealth Advisors LLC Boosts Position in Alphabet Inc. $GOOG

Earned Wealth Advisors LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 11.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,181 shares of the information services provider’s stock after buying an additional 738 shares during the period. Earned Wealth Advisors LLC’s holdings in Alphabet were worth $1,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in GOOG. IFS Advisors LLC boosted its holdings in shares of Alphabet by 400.0% in the second 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 period. Robbins Farley raised its position in Alphabet by 60.0% during 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 in the last quarter. WestEnd Advisors LLC lifted its holdings in shares of Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after buying an additional 61 shares during the period. Fairman Group LLC grew its position in shares of 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 buying an additional 97 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet during the 1st quarter worth $32,000. 27.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GOOG has been the subject of several recent research reports. Wolfe Research lifted their price objective on Alphabet from $290.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday. Bank of America boosted their price target on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a report on Thursday. Robert W. Baird upped their price target on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Piper Sandler lifted their price objective on shares of Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Cowen reissued a “buy” rating on shares of Alphabet in a research note on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 246,150 shares of company stock worth $55,805,379. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 0.0%

NASDAQ GOOG opened at $281.82 on Friday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $291.93. The company has a 50 day moving average price of $244.59 and a 200 day moving average price of $200.98. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.41 trillion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.12 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet 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.