Alphabet Inc. $GOOG Stake Raised by Barlow Wealth Partners Inc.

Key Points

• Barlow Wealth Partners Inc. increased its stake in Alphabet Inc. by 1.0%, acquiring a total of 264,270 shares valued at approximately $47.5 million.
• Alphabet reported impressive quarterly earnings, with an EPS of $2.31, surpassing expectations, and a 13.8% increase in revenue year-over-year.
• Insiders have been selling shares, with chief accounting officer Amie Thuener O'toole reducing her position by 13.84% recently.

Barlow Wealth Partners Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 264,270 shares of the information services provider's stock after buying an additional 2,564 shares during the quarter. Alphabet makes up about 5.7% of Barlow Wealth Partners Inc.'s holdings, making the stock its 2nd biggest position. Barlow Wealth Partners Inc.'s holdings in Alphabet were worth $47,505,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOG. RDA Financial Network raised its holdings in Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider's stock valued at $1,968,000 after acquiring an additional 554 shares during the last quarter. Tower View Wealth Management LLC raised its holdings in Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider's stock valued at $4,904,000 after acquiring an additional 1,776 shares during the last quarter. Oldfather Financial Services LLC acquired a new position in Alphabet in the 2nd quarter valued at $213,000. Truist Financial Corp raised its holdings in Alphabet by 0.4% in the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider's stock valued at $643,381,000 after acquiring an additional 15,065 shares during the last quarter. Finally, GC Wealth Management RIA LLC raised its holdings in Alphabet by 115.7% in the 2nd quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider's stock valued at $38,031,000 after acquiring an additional 115,003 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Stock Up 0.8%

Shares of NASDAQ GOOG opened at $253.79 on Monday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $257.58. The company has a market cap of $3.07 trillion, a P/E ratio of 27.03, a P/E/G ratio of 1.72 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average price of $232.18 and a 200 day moving average price of $193.25.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $1.89 EPS. Research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Insider Activity

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at $4,236,785. This represents a 13.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 243,372 shares of company stock valued at $55,110,740. Corporate insiders own 12.99% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. KeyCorp set a $265.00 price objective on Alphabet in a report on Wednesday, September 3rd. Cowen restated a "buy" rating on shares of Alphabet in a report on Wednesday, October 8th. Lake Street Capital restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Mizuho upgraded Alphabet to a "strong-buy" rating in a report on Monday, September 29th. Finally, Piper Sandler restated a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $244.68.

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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