Alphabet Inc. $GOOGL Shares Acquired by NorthRock Partners LLC

Key Points

• NorthRock Partners LLC increased its stake in Alphabet Inc. by 7.9% in the second quarter, owning 128,956 shares valued at approximately $22.7 million.
• Alphabet's shares opened at $259.92, with a 52-week range from $140.53 to $261.68, and it has a market capitalization of $3.14 trillion with a P/E ratio of 27.68.
• Insider John Kent Walker sold over 23,000 shares of Alphabet stock, reflecting a significant decrease in his ownership position, with insiders collectively selling 246,150 shares worth approximately $55.8 million in the last quarter.

NorthRock Partners LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,956 shares of the information services provider's stock after buying an additional 9,393 shares during the period. NorthRock Partners LLC's holdings in Alphabet were worth $22,726,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Guardian Wealth Management Inc. increased its position in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. purchased a new stake in Alphabet in the first quarter valued at approximately $28,000. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet in the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC boosted its holdings in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after acquiring an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet during the first quarter worth approximately $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated 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 in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O'toole sold 2,778 shares of the firm's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares of the company's stock, valued at $4,236,785. This trade represents a 13.84% 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 worth $55,805,379. 11.64% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $259.92 on Friday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $261.68. The company has a 50-day moving average price of $236.72 and a 200 day moving average price of $195.25. The company has a market cap of $3.14 trillion, a P/E ratio of 27.68, a PEG ratio of 1.71 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 (NASDAQ:GOOGL - 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 analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on GOOGL shares. Guggenheim reiterated a "buy" rating and issued a $280.00 price target (up previously from $210.00) on shares of Alphabet in a research report on Friday, October 17th. Citizens Jmp upped their target price on shares of Alphabet from $250.00 to $290.00 and gave the company an "outperform" rating in a report on Friday, September 19th. Tigress Financial increased their target price on shares of Alphabet from $240.00 to $280.00 and gave the stock a "strong-buy" rating in a research note on Friday, September 5th. Bank of America raised their price target on Alphabet from $252.00 to $280.00 and gave the stock a "buy" rating in a report on Monday, October 20th. Finally, Roth Capital upped their price objective on Alphabet from $210.00 to $265.00 and gave the company a "buy" rating in a research note on Thursday, October 16th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $263.20.

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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