Geneos Wealth Management Inc. Increases Position in Alphabet Inc. (NASDAQ:GOOGL)

Geneos Wealth Management Inc. raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 22.9% in the second quarter, Holdings Channel.com reports. The firm owned 42,283 shares of the information services provider’s stock after buying an additional 7,880 shares during the period. Geneos Wealth Management Inc.’s holdings in Alphabet were worth $5,061,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Modera Wealth Management LLC boosted its stake in Alphabet by 11.4% during the 1st quarter. Modera Wealth Management LLC now owns 43,230 shares of the information services provider’s stock valued at $4,484,000 after acquiring an additional 4,420 shares during the last quarter. Atria Investments Inc grew its stake in Alphabet by 7.4% in the first quarter. Atria Investments Inc now owns 316,800 shares of the information services provider’s stock worth $32,918,000 after purchasing an additional 21,907 shares in the last quarter. Cadent Capital Advisors LLC increased its holdings in Alphabet by 3.4% in the second quarter. Cadent Capital Advisors LLC now owns 4,158 shares of the information services provider’s stock valued at $498,000 after buying an additional 136 shares during the last quarter. Hallmark Capital Management Inc. raised its stake in Alphabet by 8.9% during the first quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock valued at $17,338,000 after buying an additional 13,605 shares in the last quarter. Finally, Soltis Investment Advisors LLC lifted its holdings in Alphabet by 17.1% during the 1st quarter. Soltis Investment Advisors LLC now owns 46,675 shares of the information services provider’s stock worth $4,842,000 after buying an additional 6,825 shares during the last quarter. 35.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $133.82, for a total value of $2,152,227.06. Following the completion of the sale, the senior vice president now directly owns 75,621 shares in the company, valued at $10,119,602.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the transaction, the senior vice president now directly owns 75,621 shares in the company, valued at $10,119,602.22. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 75,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $131.09, for a total value of $9,831,750.00. Following the sale, the director now owns 104,364 shares of the company’s stock, valued at approximately $13,681,076.76. The disclosure for this sale can be found here. Insiders sold 176,576 shares of company stock valued at $23,425,367 in the last three months. Corporate insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GOOGL. Barclays dropped their price target on Alphabet from $200.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 25th. StockNews.com downgraded shares of Alphabet from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 14th. Jefferies Financial Group raised their target price on shares of Alphabet from $150.00 to $165.00 in a report on Wednesday, July 26th. Susquehanna restated a “positive” rating and issued a $150.00 target price on shares of Alphabet in a research note on Thursday, August 31st. Finally, Loop Capital raised their price target on Alphabet from $125.00 to $140.00 and gave the stock a “hold” rating in a report on Friday, August 18th. Five investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $147.00.

Alphabet Stock Down 1.2 %

Alphabet stock opened at $135.31 on Monday. The firm’s 50 day moving average price is $133.44 and its two-hundred day moving average price is $127.65. The firm has a market cap of $1.69 trillion, a PE ratio of 25.97, a P/E/G ratio of 1.51 and a beta of 1.05. Alphabet Inc. has a twelve month low of $84.86 and a twelve month high of $141.22. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.01 and a current ratio of 2.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. The business had revenue of $64.05 billion for the quarter, compared to the consensus estimate of $63.13 billion. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. On average, research analysts predict that Alphabet Inc. will post 5.74 EPS for the current fiscal 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.