Alphabet Inc. (NASDAQ:GOOGL) is Procyon Advisors LLC’s 9th Largest Position

Procyon Advisors LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 147,294 shares of the information services provider’s stock after buying an additional 17,465 shares during the period. Alphabet comprises about 1.7% of Procyon Advisors LLC’s holdings, making the stock its 9th largest holding. Procyon Advisors LLC’s holdings in Alphabet were worth $24,418,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Christopher J. Hasenberg Inc boosted its holdings in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Tributary Capital Management LLC purchased a new stake in Alphabet during the 1st quarter worth about $30,000. Kings Path Partners LLC purchased a new stake in Alphabet during the 2nd quarter worth about $36,000. Denver PWM LLC purchased a new stake in Alphabet during the 2nd quarter worth about $41,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after buying an additional 109 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOOGL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Wells Fargo & Company decreased their price target on Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. The Goldman Sachs Group decreased their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday, October 14th. BMO Capital Markets decreased their price target on Alphabet from $222.00 to $215.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. Finally, Jefferies Financial Group lifted their target price on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $201.76.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $165.14 on Wednesday. The business’s 50 day simple moving average is $161.82 and its 200-day simple moving average is $168.44. The firm has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the prior year, the company earned $1.44 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 220,426 shares of company stock worth $35,993,340. Insiders own 11.55% of the company’s stock.

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.