Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 7.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,823 shares of the information services provider’s stock after buying an additional 119 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Alphabet were worth $305,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GOOG. Colonial River Wealth Management LLC lifted its stake in Alphabet by 5.3% during the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after buying an additional 107 shares in the last quarter. Oak Ridge Investments LLC grew its position in Alphabet by 4.6% during the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock worth $28,508,000 after purchasing an additional 8,201 shares in the last quarter. Rosenberg Matthew Hamilton raised its stake in Alphabet by 4.6% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock valued at $2,097,000 after purchasing an additional 498 shares during the period. Alliance Wealth Management Group lifted its holdings in shares of Alphabet by 93.6% in the first quarter. Alliance Wealth Management Group now owns 3,910 shares of the information services provider’s stock valued at $595,000 after purchasing an additional 1,890 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of Alphabet by 4.6% in the third quarter. Handelsbanken Fonder AB now owns 2,628,176 shares of the information services provider’s stock worth $439,405,000 after buying an additional 115,716 shares during the period. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GOOG shares. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. UBS Group reduced their price target on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Oppenheimer decreased their price target on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Scotiabank assumed coverage on shares of Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective on the stock. Finally, Pivotal Research assumed coverage on shares of Alphabet in a research note on Tuesday, October 1st. They set a “buy” rating and a $215.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $186.90.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the sale, the director now owns 28,524 shares in the company, valued at approximately $4,385,565. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock valued at $35,993,340 in the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

GOOG opened at $166.99 on Friday. The stock has a 50-day moving average of $163.31 and a 200-day moving average of $169.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The company has a market cap of $2.06 trillion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.44 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Profile

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.