Laurel Wealth Advisors Inc. Buys 18,628 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Laurel Wealth Advisors Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,918.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,599 shares of the information services provider’s stock after acquiring an additional 18,628 shares during the quarter. Laurel Wealth Advisors Inc.’s holdings in Alphabet were worth $1,875,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. IAG Wealth Partners LLC lifted its holdings in shares of Alphabet by 3,275.0% during the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 262 shares in the last quarter. Artemis Wealth Advisors LLC increased its position in Alphabet by 1,900.0% during the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 266 shares during the last quarter. Laurel Wealth Planning LLC increased its position in Alphabet by 1,900.0% during the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 285 shares during the last quarter. Coston McIsaac & Partners increased its position in Alphabet by 1,900.0% during the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 304 shares during the last quarter. Finally, Horizons Wealth Management purchased a new stake in Alphabet during the second quarter valued at $33,000. 34.06% of the stock is owned by institutional investors.

Alphabet Trading Down 1.8 %

GOOGL opened at $90.63 on Monday. The stock’s fifty day moving average is $94.19 and its two-hundred day moving average is $96.59. The company has a market capitalization of $1.16 trillion, a P/E ratio of 19.91, a PEG ratio of 1.25 and a beta of 1.09. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $143.79. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The company had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $63.15 billion. During the same quarter in the prior year, the business posted $1.53 earnings per share. Analysts forecast that Alphabet Inc. will post 5.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on GOOGL shares. Needham & Company LLC reiterated a “buy” rating and set a $115.00 price objective on shares of Alphabet in a research report on Wednesday, March 8th. Morgan Stanley upped their price target on Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. KeyCorp reduced their price target on Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a research report on Monday, January 30th. New Street Research assumed coverage on Alphabet in a research report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price target for the company. Finally, Truist Financial reduced their price target on Alphabet from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, February 3rd. Five investment analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $132.32.

Insider Activity

In other news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the transaction, the director now directly owns 11,300 shares in the company, valued at approximately $1,008,412. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the sale, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the firm’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 completion of the sale, the senior vice president now directly 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. In the last three months, insiders have sold 36,745 shares of company stock worth $3,424,078. 11.44% of the stock is currently owned by company insiders.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.