Alphabet Inc. $GOOG Shares Purchased by Cassaday & Co Wealth Management LLC

Cassaday & Co Wealth Management LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,075 shares of the information services provider’s stock after buying an additional 620 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Alphabet were worth $5,867,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. IFS Advisors LLC increased 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 buying an additional 120 shares in the last quarter. Robbins Farley increased its holdings in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares in the last quarter. WestEnd Advisors LLC increased its holdings in shares of Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after buying an additional 61 shares in the last quarter. Fairman Group LLC increased its holdings in shares of Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $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 in the first quarter valued at $32,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 2.4%

Alphabet stock opened at $284.75 on Thursday. The company’s fifty day simple moving average is $249.02 and its 200-day simple moving average is $203.67. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $291.93. The stock has a market cap of $3.44 trillion, a P/E ratio of 28.08, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating 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 business had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. During the same period in the previous year, the company posted $2.12 EPS. Alphabet’s revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 1,000 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director directly owned 6,916 shares in the company, valued at $1,383,200. The trade was a 12.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 190,896 shares of company stock valued at $45,092,175. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of several research reports. Morgan Stanley upped their price target on Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. HSBC reissued a “buy” rating and set a $335.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Piper Sandler boosted their target price on shares of Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $330.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

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.