AXS Investments LLC Purchases 1,339 Shares of Alphabet Inc. (NASDAQ:GOOG)

AXS Investments LLC lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 12.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,537 shares of the information services provider’s stock after acquiring an additional 1,339 shares during the quarter. AXS Investments LLC’s holdings in Alphabet were worth $1,304,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Corrado Advisors LLC purchased a new position in Alphabet in the 4th quarter worth about $27,000. Mark Sheptoff Financial Planning LLC increased its stake in Alphabet by 142.9% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 340 shares of the information services provider’s stock worth $35,000 after buying an additional 200 shares during the period. Milestone Wealth LLC increased its stake in Alphabet by 1,900.0% in the 3rd quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock worth $37,000 after buying an additional 361 shares during the period. Bbjs Financial Advisors LLC purchased a new position in Alphabet in the 4th quarter worth about $48,000. Finally, GW&K Investment Management LLC purchased a new position in Alphabet in the 1st quarter worth about $50,000. Institutional investors own 27.13% of the company’s stock.

Alphabet Stock Performance

GOOG stock traded down $0.44 during trading on Friday, reaching $136.91. The company had a trading volume of 8,925,926 shares, compared to its average volume of 27,425,500. The firm has a 50-day simple moving average of $126.62 and a 200-day simple moving average of $114.77. The company has a market cap of $1.73 trillion, a price-to-earnings ratio of 29.10, a price-to-earnings-growth ratio of 1.52 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $138.58.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. The company had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. Alphabet’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the business earned $1.21 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 5.68 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wedbush assumed coverage on shares of Alphabet in a research note on Monday, August 21st. They issued an “outperform” rating on the stock. Oppenheimer raised their target price on shares of Alphabet from $145.00 to $160.00 in a research report on Wednesday, July 26th. Robert W. Baird raised their target price on shares of Alphabet from $123.00 to $140.00 in a research report on Wednesday, July 26th. Finally, Susquehanna raised their target price on shares of Alphabet from $120.00 to $150.00 in a research report on Wednesday, July 26th. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $132.00.

Insider Buying and Selling

In other Alphabet news, Director Ann Mather sold 220 shares of Alphabet stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $130.14, for a total transaction of $28,630.80. Following the completion of the sale, the director now directly owns 4,818 shares in the company, valued at approximately $627,014.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Alphabet news, Director Ann Mather sold 220 shares of Alphabet stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $130.14, for a total transaction of $28,630.80. Following the completion of the sale, the director now directly owns 4,818 shares in the company, valued at approximately $627,014.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $131.14, for a total transaction of $26,228.00. Following the sale, the director now owns 5,340 shares of the company’s stock, valued at $700,287.60. The disclosure for this sale can be found here. Insiders sold 176,247 shares of company stock worth $7,755,027 in the last three months. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.