Omega Financial Group LLC Invests $326,000 in Alphabet Inc. (NASDAQ:GOOG)

Omega Financial Group LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) during the second quarter, HoldingsChannel reports. The firm bought 149 shares of the information services provider’s stock, valued at approximately $326,000.

Other hedge funds have also recently modified their holdings of the company. Shilanski & Associates Inc. grew its stake in shares of Alphabet by 1.8% during the 1st quarter. Shilanski & Associates Inc. now owns 450 shares of the information services provider’s stock valued at $1,257,000 after purchasing an additional 8 shares during the period. Minot Wealth Management LLC grew its stake in shares of Alphabet by 3.9% during the 1st quarter. Minot Wealth Management LLC now owns 721 shares of the information services provider’s stock valued at $2,014,000 after acquiring an additional 27 shares during the period. Thomasville National Bank grew its stake in shares of Alphabet by 2.0% during the 1st quarter. Thomasville National Bank now owns 13,586 shares of the information services provider’s stock valued at $37,946,000 after acquiring an additional 261 shares during the period. Mcrae Capital Management Inc. grew its stake in shares of Alphabet by 6.7% during the 1st quarter. Mcrae Capital Management Inc. now owns 111 shares of the information services provider’s stock valued at $310,000 after acquiring an additional 7 shares during the period. Finally, InTrack Investment Management Inc grew its stake in shares of Alphabet by 23.7% during the 1st quarter. InTrack Investment Management Inc now owns 919 shares of the information services provider’s stock valued at $2,568,000 after acquiring an additional 176 shares during the period. Institutional investors own 1.49% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $110.00, for a total value of $165,000.00. Following the sale, the director now owns 33,260 shares in the company, valued at $3,658,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $110.00, for a total transaction of $165,000.00. Following the transaction, the director now owns 33,260 shares of the company’s stock, valued at approximately $3,658,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Prabhakar Raghavan sold 1,109 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the transaction, the senior vice president now directly owns 1,608 shares in the company, valued at approximately $3,484,117.92. The disclosure for this sale can be found here. Insiders have sold a total of 44,536 shares of company stock worth $15,729,998 over the last quarter. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Cowen cut their price objective on Alphabet from $300.00 to $150.00 in a research note on Monday, July 25th. Piper Sandler dropped their price target on Alphabet from $139.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, July 27th. Barclays set a $150.00 price target on Alphabet in a research note on Thursday, September 8th. Citigroup dropped their price target on Alphabet from $158.75 to $145.00 and set a “buy” rating for the company in a research note on Thursday, July 14th. Finally, Evercore ISI dropped their price target on Alphabet from $165.00 to $155.50 and set an “outperform” rating for the company in a research note on Thursday, July 7th. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $158.05.

Alphabet Stock Performance

NASDAQ:GOOG opened at $100.57 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. The stock’s fifty day moving average is $112.60 and its 200 day moving average is $118.39. Alphabet Inc. has a fifty-two week low of $99.41 and a fifty-two week high of $152.10. The firm has a market capitalization of $1.31 trillion, a PE ratio of 18.71, a PEG ratio of 1.65 and a beta of 1.08.

Alphabet (NASDAQ:GOOGGet Rating) last released its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. The business had revenue of $57.47 billion during the quarter, compared to analysts’ expectations of $57.55 billion. During the same quarter in the previous year, the business earned $27.26 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 5.21 earnings per share for the current year.

Alphabet Company Profile

(Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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