AJ Wealth Strategies LLC Buys 32,153 Shares of Alphabet Inc. (NASDAQ:GOOGL)

AJ Wealth Strategies LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,860.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,881 shares of the information services provider’s stock after buying an additional 32,153 shares during the period. AJ Wealth Strategies LLC’s holdings in Alphabet were worth $3,241,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Newfound Research LLC increased its holdings in shares of Alphabet by 53.8% in the 2nd 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. DC Investments Management LLC bought a new stake in shares of Alphabet in the 1st quarter worth $114,000. Bridgefront Capital LLC bought a new stake in shares of Alphabet in the 1st quarter worth $225,000. Worth Asset Management LLC purchased a new position in shares of Alphabet in the 1st quarter worth $206,000. Finally, Augustine Asset Management Inc. purchased a new position in shares of Alphabet in the 2nd quarter worth $200,000. Institutional investors own 34.06% of the company’s stock.

Alphabet Stock Down 2.1 %

Shares of NASDAQ:GOOGL opened at $97.70 on Wednesday. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $151.55. The business has a 50 day simple moving average of $93.10 and a two-hundred day simple moving average of $101.38. The firm has a market capitalization of $1.26 trillion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 1.72 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its 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 business had revenue of $57.27 billion for the quarter, compared to analysts’ expectations of $58.36 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. During the same quarter last year, the firm earned $1.40 EPS. On average, equities analysts predict that Alphabet Inc. will post 4.68 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GOOGL. The Goldman Sachs Group dropped their price target on Alphabet to $135.00 in a research note on Thursday, October 27th. Sanford C. Bernstein dropped their price target on Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. New Street Research began coverage on Alphabet in a research note on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price target on the stock. Evercore ISI dropped their price target on Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 21st. Finally, Atlantic Securities dropped their price target on Alphabet to $115.00 in a research note on Thursday, October 27th. Five equities research 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $132.13.

Insider Activity at Alphabet

In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the sale, the senior vice president now owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. Over the last quarter, insiders bought 661,702 shares of company stock worth $23,399,217 and sold 190,464 shares worth $8,535,735. 11.44% of the stock is owned by company insiders.

About Alphabet

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Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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