Alphabet Inc. (NASDAQ:GOOGL) is Precision Wealth Strategies LLC’s 10th Largest Position

Precision Wealth Strategies LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 396.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 819 shares of the information services provider’s stock after acquiring an additional 654 shares during the period. Alphabet comprises approximately 1.4% of Precision Wealth Strategies LLC’s portfolio, making the stock its 10th biggest holding. Precision Wealth Strategies LLC’s holdings in Alphabet were worth $2,278,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Alphabet by 18.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,534 shares of the information services provider’s stock worth $7,048,000 after acquiring an additional 397 shares in the last quarter. Gladstone Institutional Advisory LLC raised its holdings in shares of Alphabet by 6.7% during the first quarter. Gladstone Institutional Advisory LLC now owns 4,780 shares of the information services provider’s stock worth $13,295,000 after acquiring an additional 300 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Alphabet by 0.7% during the first quarter. Envestnet Asset Management Inc. now owns 238,643 shares of the information services provider’s stock worth $663,749,000 after acquiring an additional 1,753 shares in the last quarter. IFG Advisory LLC raised its holdings in shares of Alphabet by 27.1% during the first quarter. IFG Advisory LLC now owns 755 shares of the information services provider’s stock worth $2,099,000 after acquiring an additional 161 shares in the last quarter. Finally, D. Scott Neal Inc. purchased a new stake in shares of Alphabet during the first quarter worth $339,000. 41.70% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $118.08 on Thursday. Alphabet Inc. has a 1 year low of $101.88 and a 1 year high of $151.55. The firm has a 50 day moving average of $154.96 and a 200-day moving average of $138.24. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $1.56 trillion, a P/E ratio of 21.97, a price-to-earnings-growth ratio of 1.85 and a beta of 1.08.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.11). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same quarter in the prior year, the firm posted $27.26 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 5.22 EPS for the current fiscal year.

Insider Activity

In other news, Director Ann Mather sold 20 shares of Alphabet stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the completion of the transaction, the director now owns 565 shares in the company, valued at $1,346,575.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Ann Mather sold 20 shares of the business’s stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the completion of the transaction, the director now owns 565 shares in the company, valued at approximately $1,346,575.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 1,109 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the completion of the transaction, the senior vice president now owns 1,608 shares of the company’s stock, valued at approximately $3,484,117.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,584 shares of company stock worth $11,646,684. Insiders own 11.44% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of several recent research reports. Susquehanna Bancshares cut their target price on Alphabet from $187.50 to $150.00 and set a “positive” rating on the stock in a report on Wednesday, July 27th. JMP Securities cut their target price on Alphabet from $165.00 to $160.00 and set a “market outperform” rating on the stock in a report on Thursday, June 30th. Truist Financial cut their target price on Alphabet from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. Barclays cut their target price on Alphabet from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday, July 5th. Finally, Jefferies Financial Group cut their target price on Alphabet from $155.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. Five equities research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.36.

Alphabet Company Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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