Alphabet Inc. $GOOG Shares Purchased by LifeWealth Investments LLC

LifeWealth Investments LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.9% during the second quarter, HoldingsChannel.com reports. The fund owned 4,976 shares of the information services provider’s stock after buying an additional 231 shares during the period. LifeWealth Investments LLC’s holdings in Alphabet were worth $883,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOG. MorganRosel Wealth Management LLC acquired a new position in Alphabet during the first quarter worth about $26,000. IFS Advisors LLC boosted its holdings in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley boosted its holdings in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC boosted its holdings in Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares during the last quarter. Finally, Fairman Group LLC boosted its holdings in Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 97 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock worth $55,805,379 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on GOOG. Pivotal Research boosted their target price on shares of Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Raymond James Financial set a $275.00 target price on shares of Alphabet and gave the company an “outperform” rating in a report on Friday. Robert W. Baird boosted their target price on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Oppenheimer set a $300.00 target price on shares of Alphabet and gave the company an “outperform” rating in a report on Monday, October 20th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $249.68.

Alphabet Stock Performance

Shares of GOOG stock opened at $260.51 on Friday. The firm’s 50 day moving average price is $237.33 and its 200-day moving average price is $196.66. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a one year low of $142.66 and a one year high of $262.51. The firm has a market cap of $3.15 trillion, a P/E ratio of 27.74, a P/E/G ratio of 1.76 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the prior year, the firm earned $1.89 EPS. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Company 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.