RGT Wealth Advisors LLC Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

RGT Wealth Advisors LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 126.2% during the 2nd quarter, Holdings Channel reports. The fund owned 665 shares of the information services provider’s stock after acquiring an additional 371 shares during the period. Alphabet comprises about 0.2% of RGT Wealth Advisors LLC’s portfolio, making the stock its 26th biggest position. RGT Wealth Advisors LLC’s holdings in Alphabet were worth $1,449,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dravo Bay LLC acquired a new stake in Alphabet during the first quarter worth about $28,000. Financial Enhancement Group LLC purchased a new position in Alphabet in the first quarter valued at about $31,000. Wealthgate Family Office LLC purchased a new position in Alphabet in the fourth quarter valued at about $32,000. Verity Asset Management Inc. boosted its holdings in Alphabet by 536,206.4% in the first quarter. Verity Asset Management Inc. now owns 589,937 shares of the information services provider’s stock valued at $39,000 after purchasing an additional 589,827 shares during the last quarter. Finally, Advocacy Wealth Management Services LLC boosted its holdings in Alphabet by 72.7% in the second quarter. Advocacy Wealth Management Services LLC now owns 19 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 8 shares during the last quarter. 1.88% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.9 %

Alphabet stock opened at $100.14 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. The business’s 50-day simple moving average is $111.79 and its 200-day simple moving average is $117.82. The firm has a market capitalization of $1.31 trillion, a PE ratio of 18.63, a PEG ratio of 1.64 and a beta of 1.09. Alphabet Inc. has a 52 week low of $98.79 and a 52 week high of $151.55.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GOOGL shares. Truist Financial reduced their price target on Alphabet from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, July 27th. Jefferies Financial Group reduced 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. Evercore ISI reduced their target price on Alphabet from $155.50 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Tigress Financial increased their target price on Alphabet from $183.00 to $186.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 3rd. Finally, Credit Suisse Group cut their price target on Alphabet from $143.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Five research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $147.41.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 1,109 shares of Alphabet stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the transaction, the senior vice president now directly owns 1,608 shares in the company, valued at $3,484,117.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 1,109 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 1,608 shares in the company, valued at $3,484,117.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $110.00, for a total value of $165,000.00. Following the transaction, the director now owns 33,260 shares in the company, valued at $3,658,600. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,536 shares of company stock worth $15,729,998. Company insiders own 11.44% of the company’s stock.

Alphabet Company Profile

(Get Rating)

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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