Blue Barn Wealth LLC Acquires 265 Shares of Alphabet Inc. $GOOG

Blue Barn Wealth LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,511 shares of the information services provider’s stock after buying an additional 265 shares during the quarter. Blue Barn Wealth LLC’s holdings in Alphabet were worth $978,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC grew its stake in Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after purchasing an additional 135,064,454 shares in the last quarter. Nuveen LLC bought a new position in Alphabet in the first quarter valued at approximately $2,622,943,000. Vanguard Group Inc. grew its stake in Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares in the last quarter. Finally, Strs Ohio bought a new position in Alphabet in the first quarter valued at approximately $369,713,000. 27.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several analyst reports. Rosenblatt Securities set a $279.00 price target on shares of Alphabet in a research report on Thursday, October 30th. DA Davidson set a $825.00 price target on shares of Alphabet in a research report on Monday, October 27th. Canaccord Genuity Group reiterated a “buy” rating and set a $330.00 price target on shares of Alphabet in a report on Thursday, October 30th. HSBC reiterated a “buy” rating and set a $335.00 price target on shares of Alphabet in a report on Thursday, October 30th. Finally, Roth Capital reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $324.81.

Insider Activity

In related news, 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 value of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the transaction, the director directly owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 190,896 shares of company stock worth $45,092,175. 12.99% of the stock is owned by insiders.

Alphabet Trading Up 2.4%

GOOG stock opened at $284.75 on Thursday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $291.93. The company’s 50-day simple moving average is $249.02 and its 200 day simple moving average is $203.67. The company has a market capitalization of $3.44 trillion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. 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, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. During the same period last year, the firm earned $2.12 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current 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.