PBMares Wealth Management LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

PBMares Wealth Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 2,010.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,740 shares of the information services provider’s stock after purchasing an additional 5,468 shares during the quarter. PBMares Wealth Management LLC’s holdings in Alphabet were worth $549,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Advocacy Wealth Management Services LLC raised 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 acquiring an additional 8 shares in the last quarter. Cardinal Capital Management Inc. acquired a new stake in Alphabet in the second quarter valued at approximately $41,000. Belmont Capital LLC raised its holdings in Alphabet by 110.0% in the second quarter. Belmont Capital LLC now owns 21 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 11 shares in the last quarter. Newfound Research LLC raised its holdings in Alphabet by 53.8% during the second quarter. Newfound Research LLC now owns 40 shares of the information services provider’s stock worth $87,000 after purchasing an additional 14 shares in the last quarter. Finally, DC Investments Management LLC acquired a new stake in Alphabet during the first quarter worth approximately $114,000. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the business’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $38.64, for a total transaction of $4,149,665.52. The disclosure for this sale can be found here. In the last 90 days, insiders bought 1,461,702 shares of company stock valued at $36,999,217 and sold 190,744 shares valued at $8,564,640. Corporate insiders own 11.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GOOGL. Susquehanna cut their price objective on shares of Alphabet from $150.00 to $120.00 and set a “positive” rating on the stock in a report on Wednesday, October 26th. Mizuho cut their price objective on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. Cowen cut their price objective on shares of Alphabet to $135.00 in a report on Thursday, October 27th. Truist Financial cut their price objective on shares of Alphabet from $136.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, October 26th. Finally, Atlantic Securities cut their price objective on shares of Alphabet to $115.00 in a report on Thursday, October 27th. Five analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $132.00.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $92.12 on Monday. The firm has a market capitalization of $1.19 trillion, a P/E ratio of 18.29, a PEG ratio of 1.62 and a beta of 1.09. Alphabet Inc. has a one year low of $83.34 and a one year high of $151.55. The company’s fifty day moving average is $92.82 and its two-hundred day moving average is $102.19. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52.

Alphabet (NASDAQ:GOOGLGet Rating) last released its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.19). The firm had revenue of $57.27 billion for the quarter, compared to analyst estimates of $58.36 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. During the same period last year, the firm earned $1.40 EPS. Analysts forecast that Alphabet Inc. will post 4.68 EPS for the current fiscal 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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