Foster & Motley Inc. Raises Stock Holdings in Alphabet Inc. $GOOG

Foster & Motley Inc. increased its position in Alphabet Inc. (NASDAQ:GOOG) by 3.5% in the second quarter, HoldingsChannel.com reports. The fund owned 121,216 shares of the information services provider’s stock after buying an additional 4,151 shares during the period. Alphabet comprises approximately 1.2% of Foster & Motley Inc.’s investment portfolio, making the stock its 15th biggest holding. Foster & Motley Inc.’s holdings in Alphabet were worth $21,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new position in Alphabet in the 1st quarter worth $26,000. IFS Advisors LLC raised its stake in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares during the last quarter. Robbins Farley raised its stake in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares during the last quarter. WestEnd Advisors LLC raised its stake in 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 acquiring an additional 61 shares during the last quarter. Finally, Fairman Group LLC raised its stake in Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after acquiring an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $257.02 on Tuesday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $257.88. 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 stock has a market capitalization of $3.11 trillion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 1.72 and a beta of 1.00. The stock’s 50-day moving average price is $233.29 and its 200-day moving average price is $194.01.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same period last year, the firm earned $1.89 EPS. The company’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at $3,629,725.80. This trade represents a 16.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of 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 disclosure for this sale can be found here. Over the last three months, insiders sold 246,150 shares of company stock worth $55,805,379. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GOOG shares. Piper Sandler restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. KeyCorp set a $265.00 price objective on Alphabet in a research note on Wednesday, September 3rd. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Finally, Cowen reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, October 8th. Six investment 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 given a Sell rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $246.26.

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.