Wealthsource Partners LLC Grows Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Wealthsource Partners LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,960.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,570 shares of the information services provider’s stock after purchasing an additional 46,213 shares during the quarter. Wealthsource Partners LLC’s holdings in Alphabet were worth $4,670,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in GOOG. OLD Second National Bank of Aurora lifted its stake in shares of Alphabet by 1,900.0% in the third quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after buying an additional 247 shares in the last quarter. Westchester Capital Management Inc. raised its holdings in Alphabet by 1,900.0% in the 3rd quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock valued at $25,000 after acquiring an additional 247 shares during the last quarter. Carolina Wealth Advisors LLC lifted its stake in Alphabet by 1,900.0% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after purchasing an additional 285 shares in the last quarter. Saban Cheryl lifted its stake in Alphabet by 1,900.0% in the 3rd quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock worth $29,000 after purchasing an additional 190 shares in the last quarter. Finally, NewSquare Capital LLC boosted its holdings in shares of Alphabet by 1,900.0% during the 3rd quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock worth $31,000 after purchasing an additional 304 shares during the last quarter. 28.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the sale, the chief accounting officer now directly owns 25,122 shares in the company, valued at $2,289,870.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The shares were 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 in the company, valued at approximately $2,289,870.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Mather sold 380 shares of the stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total transaction of $33,911.20. Following the completion of the sale, the director now directly owns 11,300 shares in the company, valued at $1,008,412. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,745 shares of company stock worth $3,424,078. 12.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of analyst reports. Piper Sandler reduced their price objective on Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, February 3rd. Oppenheimer lifted their price target on Alphabet from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Roth Capital restated a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Sanford C. Bernstein set a $130.00 target price on shares of Alphabet in a research note on Monday, February 6th. Finally, Bank of America increased their price target on shares of Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research note on Tuesday, January 31st. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $137.13.

Alphabet Price Performance

Alphabet stock opened at $94.25 on Wednesday. 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 Inc. has a 52-week low of $83.45 and a 52-week high of $144.16. The firm has a market cap of $1.21 trillion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 1.26 and a beta of 1.09. The company’s 50 day moving average is $94.96 and its two-hundred day moving average is $96.85.

Alphabet (NASDAQ:GOOG – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $76.49 billion. During the same quarter in the previous year, the business posted $1.53 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Alphabet Company 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.