Elevated Capital Advisors LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Elevated Capital Advisors LLC lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,926 shares of the information services provider’s stock after buying an additional 417 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Alphabet were worth $2,830,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Abich Financial Wealth Management LLC raised its holdings in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet in the 2nd quarter valued at $37,000. HWG Holdings LP purchased a new stake in shares of Alphabet in the 2nd quarter valued at $40,000. Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet in the 2nd quarter valued at $44,000. Finally, Hoese & Co LLP raised its holdings in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total value of $473,929.82. Following the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at approximately $4,406,343.27. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock worth $35,993,340 in the last quarter. 12.99% of the stock is owned by insiders.

Analyst Ratings Changes

GOOG has been the topic of several recent research reports. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. TD Cowen upped their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, UBS Group cut their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $186.90.

Alphabet Trading Down 1.4 %

NASDAQ:GOOG opened at $164.48 on Thursday. The stock’s 50 day moving average price is $163.28 and its 200 day moving average price is $169.92. The company has a market capitalization of $2.03 trillion, a PE ratio of 25.23, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm 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 firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.44 EPS. On average, research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current 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.