Wedmont Private Capital Buys 8,369 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Wedmont Private Capital grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 12.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,390 shares of the information services provider’s stock after purchasing an additional 8,369 shares during the quarter. Alphabet makes up about 0.7% of Wedmont Private Capital’s holdings, making the stock its 26th largest position. Wedmont Private Capital’s holdings in Alphabet were worth $12,776,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Marcum Wealth LLC raised its holdings in shares of Alphabet by 3.1% in the third quarter. Marcum Wealth LLC now owns 21,710 shares of the information services provider’s stock valued at $3,601,000 after purchasing an additional 651 shares during the last quarter. CWM LLC grew its position in Alphabet by 0.3% in the 3rd quarter. CWM LLC now owns 895,887 shares of the information services provider’s stock worth $148,583,000 after purchasing an additional 3,053 shares in the last quarter. Daymark Wealth Partners LLC increased its stake in Alphabet by 1.4% in the 3rd quarter. Daymark Wealth Partners LLC now owns 292,298 shares of the information services provider’s stock valued at $48,478,000 after buying an additional 3,928 shares during the last quarter. Saxon Interests Inc. lifted its position in shares of Alphabet by 15.9% during the 3rd quarter. Saxon Interests Inc. now owns 2,314 shares of the information services provider’s stock worth $384,000 after buying an additional 318 shares in the last quarter. Finally, First National Corp MA ADV boosted its stake in shares of Alphabet by 0.5% in the 3rd quarter. First National Corp MA ADV now owns 16,990 shares of the information services provider’s stock worth $2,818,000 after buying an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent analyst reports. Evercore ISI dropped their price target on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. DA Davidson assumed coverage on shares of Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. Wolfe Research began coverage on shares of Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 target price for the company. Finally, Bank of America lifted their price target on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Eight analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $201.76.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet 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 transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was 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 have sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is currently owned by insiders.

Alphabet Trading Down 1.4 %

Shares of Alphabet stock opened at $162.93 on Friday. The company has a 50 day simple moving average of $161.77 and a two-hundred day simple moving average of $168.01. The firm has a market cap of $2.01 trillion, a PE ratio of 24.99, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. 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 (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same period in the previous year, the business earned $1.44 earnings per share. Analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

About Alphabet

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.