Alphabet Inc. (NASDAQ:GOOG) Position Lifted by Level Four Advisory Services LLC

Level Four Advisory Services LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 41.2% during the first quarter, HoldingsChannel.com reports. The firm owned 49,093 shares of the information services provider’s stock after purchasing an additional 14,323 shares during the period. Level Four Advisory Services LLC’s holdings in Alphabet were worth $5,106,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of GOOG. ORG Partners LLC bought a new stake in Alphabet in the first quarter valued at about $1,040,000. Prelude Capital Management LLC increased its holdings in shares of Alphabet by 246.0% in the 1st quarter. Prelude Capital Management LLC now owns 9,812 shares of the information services provider’s stock valued at $1,020,000 after acquiring an additional 6,976 shares during the last quarter. Golden State Equity Partners acquired a new stake in shares of Alphabet during the 1st quarter valued at approximately $211,000. Searle & CO. increased its stake in Alphabet by 3.7% during the first quarter. Searle & CO. now owns 6,490 shares of the information services provider’s stock valued at $702,000 after purchasing an additional 230 shares during the last quarter. Finally, Kennedy Investment Group boosted its holdings in shares of Alphabet by 2.1% in the 1st quarter. Kennedy Investment Group now owns 24,895 shares of the information services provider’s stock valued at $2,589,000 after buying an additional 510 shares during the period. Institutional investors own 27.13% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $137.50 on Thursday. The company has a 50-day moving average of $129.20 and a 200-day moving average of $117.49. The firm has a market cap of $1.73 trillion, a price-to-earnings ratio of 29.13, a price-to-earnings-growth ratio of 1.57 and a beta of 1.06. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $138.58.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The business had revenue of $74.60 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the business earned $1.21 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. Analysts forecast that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.

Insider Activity

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 6,532 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $15.02, for a total value of $98,110.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider John Kent Walker sold 42,900 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $136.51, for a total value of $5,856,279.00. Following the transaction, the insider now owns 10,383 shares in the company, valued at $1,417,383.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 6,532 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $15.02, for a total transaction of $98,110.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,029 shares of company stock worth $12,883,371. 12.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GOOG has been the topic of a number of research reports. Robert W. Baird increased their price target on Alphabet from $123.00 to $140.00 in a research report on Wednesday, July 26th. Oppenheimer increased their target price on Alphabet from $145.00 to $160.00 in a research report on Wednesday, July 26th. Wedbush began coverage on shares of Alphabet in a research report on Monday, August 21st. They set an “outperform” rating for the company. Finally, Susquehanna boosted their price objective on Alphabet from $120.00 to $150.00 in a research report on Wednesday, July 26th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $130.94.

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.