Alphabet Inc. $GOOG Shares Bought by Bleakley Financial Group LLC

Key Points

• Bleakley Financial Group LLC increased its stake in Alphabet Inc. by 1.4% during the 2nd quarter, owning a total of 170,020 shares valued at approximately $30.16 million.
• Alphabet reported a positive earnings surprise with $2.31 EPS and revenue of $96.43 billion for the last quarter, surpassing analyst expectations.
• Six research analysts rated Alphabet with a Strong Buy rating, contributing to an average target price of $249.68 for the stock.

Bleakley Financial Group LLC raised its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 170,020 shares of the information services provider's stock after buying an additional 2,304 shares during the period. Bleakley Financial Group LLC's holdings in Alphabet were worth $30,160,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of GOOG. MorganRosel Wealth Management LLC purchased a new position in Alphabet in the 1st quarter worth approximately $26,000. IFS Advisors LLC lifted its stake in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock worth $27,000 after purchasing an additional 120 shares in the last quarter. Robbins Farley lifted its stake in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider's stock worth $28,000 after purchasing an additional 60 shares in the last quarter. WestEnd Advisors LLC lifted its stake in Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider's stock worth $29,000 after purchasing an additional 61 shares in the last quarter. Finally, Fairman Group LLC lifted its stake in Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider's stock worth $31,000 after purchasing an additional 97 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of research reports. Weiss Ratings reissued a "buy (b)" rating on shares of Alphabet in a research note on Friday. Hsbc Global Res raised shares of Alphabet to a "strong-buy" rating in a research report on Tuesday, October 7th. Oppenheimer set a $300.00 price target on shares of Alphabet and gave the company an "outperform" rating in a research report on Monday, October 20th. Phillip Securities lowered shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. Finally, Morgan Stanley lifted their price target on shares of Alphabet from $210.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, October 2nd. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $249.68.

Alphabet Stock Up 2.7%

Shares of NASDAQ GOOG opened at $260.51 on Friday. The firm has a market cap of $3.15 trillion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.76 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $262.51. The business's 50 day moving average is $237.33 and its two-hundred day moving average is $196.66.

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

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 103 shares of the business's stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director owned 17,284 shares of the company's stock, valued at $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O'toole sold 2,778 shares of the business's stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock valued at $55,805,379 over the last quarter. 12.99% of the stock is owned by corporate insiders.

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.

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