13,006 Shares in Alphabet Inc. $GOOG Purchased by Alpha Wealth Funds LLC

Key Points

• Alpha Wealth Funds LLC purchased 13,006 shares of Alphabet Inc. for approximately $2.3 million, making it their 5th largest holding.
• Insider John Kent Walker sold 23,820 shares at an average price of $194.70, reducing his ownership by 35.65%, while CEO Sundar Pichai sold 32,500 shares at $249.50.
• Alphabet reported a net margin of 31.12% with a revenue of $96.43 billion for the last quarter, surpassing analysts' expectations.

Alpha Wealth Funds LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 13,006 shares of the information services provider's stock, valued at approximately $2,318,000. Alphabet accounts for approximately 1.9% of Alpha Wealth Funds LLC's portfolio, making the stock its 5th biggest holding.

A number of other institutional investors have also modified their holdings of the stock. Pinnacle Wealth Management LLC increased its position in shares of Alphabet by 3.6% during the second quarter. Pinnacle Wealth Management LLC now owns 13,637 shares of the information services provider's stock worth $2,419,000 after acquiring an additional 479 shares during the period. Planned Solutions Inc. increased its position in shares of Alphabet by 2.9% during the second quarter. Planned Solutions Inc. now owns 4,193 shares of the information services provider's stock worth $744,000 after acquiring an additional 120 shares during the period. Wendell David Associates Inc. increased its position in shares of Alphabet by 2.7% during the second quarter. Wendell David Associates Inc. now owns 3,315 shares of the information services provider's stock worth $588,000 after acquiring an additional 87 shares during the period. John G Ullman & Associates Inc. increased its holdings in Alphabet by 28.1% during the second quarter. John G Ullman & Associates Inc. now owns 15,178 shares of the information services provider's stock valued at $2,692,000 after buying an additional 3,325 shares during the period. Finally, Kelman Lazarov Inc. increased its holdings in Alphabet by 3.8% during the second quarter. Kelman Lazarov Inc. now owns 3,807 shares of the information services provider's stock valued at $675,000 after buying an additional 141 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares of the company's stock, valued at $598,149,304. The trade was a 1.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 246,150 shares of company stock valued at $55,805,379. Corporate insiders own 12.99% of the company's stock.

Alphabet Trading Up 2.7%

Shares of Alphabet stock opened at $260.51 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a fifty day moving average price of $237.33 and a 200 day moving average price of $196.32. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $262.51. The stock has a market cap of $3.15 trillion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter last year, the company posted $1.89 earnings per share. The firm's revenue was up 13.8% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on GOOG. Raymond James Financial set a $275.00 target price on shares of Alphabet and gave the company an "outperform" rating in a research note on Friday. Oppenheimer set a $300.00 price objective on shares of Alphabet and gave the stock an "outperform" rating in a research note on Monday. Cowen reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, October 8th. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Mizuho upgraded shares of Alphabet to a "strong-buy" rating in a research note on Monday, September 29th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $249.68.

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.

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