Sugarloaf Wealth Management LLC Purchases 154 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sugarloaf Wealth Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 19.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 959 shares of the information services provider’s stock after acquiring an additional 154 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in Alphabet were worth $2,088,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Alphabet during the 4th quarter worth about $14,477,662,000. Aaron Wealth Advisors LLC increased its holdings in shares of Alphabet by 699,790.2% during the 1st quarter. Aaron Wealth Advisors LLC now owns 4,703,262 shares of the information services provider’s stock worth $1,691,000 after purchasing an additional 4,702,590 shares during the period. Verity Asset Management Inc. increased its holdings in shares of Alphabet by 536,206.4% during the 1st quarter. Verity Asset Management Inc. now owns 589,937 shares of the information services provider’s stock worth $39,000 after purchasing an additional 589,827 shares during the period. Vanguard Group Inc. increased its holdings in shares of Alphabet by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock worth $64,817,723,000 after purchasing an additional 331,945 shares during the period. Finally, BlueSpruce Investments LP bought a new position in shares of Alphabet during the 1st quarter worth about $639,744,000. Institutional investors own 1.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GOOGL shares. Wells Fargo & Company dropped their price objective on shares of Alphabet from $170.00 to $160.00 and set an “overweight” rating on the stock in a report on Wednesday, July 27th. Susquehanna dropped their price objective on shares of Alphabet from $187.50 to $150.00 and set a “positive” rating on the stock in a report on Wednesday, July 27th. JPMorgan Chase & Co. dropped their price objective on shares of Alphabet from $160.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, June 29th. Mizuho decreased their target price on shares of Alphabet from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, July 22nd. Finally, KeyCorp decreased their target price on shares of Alphabet from $153.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 26th. Five investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $147.41.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Ann Mather sold 20 shares of the company’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 sale, the director now owns 565 shares of the company’s stock, valued at $1,346,575.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, Director Ann Mather sold 20 shares of the company’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 sale, the director now owns 565 shares of the company’s stock, valued at $1,346,575.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $110.00, for a total transaction of $165,000.00. Following the completion of the transaction, the director now owns 33,260 shares of the company’s stock, valued at approximately $3,658,600. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,536 shares of company stock valued at $15,729,998. Corporate insiders own 11.44% of the company’s stock.

Alphabet Trading Down 1.8 %

GOOGL opened at $99.28 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78. The company has a market cap of $1.30 trillion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09. The firm has a 50 day simple moving average of $112.02 and a 200 day simple moving average of $118.04. Alphabet Inc. has a fifty-two week low of $99.27 and a fifty-two week high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. The business had revenue of $57.47 billion for the quarter, compared to the consensus estimate of $57.55 billion. During the same period last year, the firm earned $27.26 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 5.21 earnings per share for the current year.

About Alphabet

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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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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