Alphabet Inc. $GOOGL Shares Bought by Cornerstone Wealth Group LLC

Key Points

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Cornerstone Wealth Group LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 18.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 94,624 shares of the information services provider's stock after buying an additional 14,673 shares during the period. Alphabet makes up approximately 1.3% of Cornerstone Wealth Group LLC's portfolio, making the stock its 17th largest position. Cornerstone Wealth Group LLC's holdings in Alphabet were worth $16,676,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its stake in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC raised its holdings in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after acquiring an additional 506 shares in the last quarter. GAMMA Investing LLC raised its holdings in Alphabet by 10.5% in the first quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider's stock valued at $16,062,000 after acquiring an additional 9,900 shares in the last quarter. Hudson Value Partners LLC lifted its stake in Alphabet by 1.3% in the first quarter. Hudson Value Partners LLC now owns 74,229 shares of the information services provider's stock worth $11,479,000 after acquiring an additional 947 shares during the last quarter. Finally, Jericho Financial LLP grew its holdings in Alphabet by 5.3% during the 1st quarter. Jericho Financial LLP now owns 37,197 shares of the information services provider's stock worth $5,752,000 after acquiring an additional 1,860 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Up 2.7%

Alphabet stock opened at $259.92 on Friday. The company has a market capitalization 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 debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $261.68. The stock has a 50-day simple moving average of $236.72 and a 200-day simple moving average of $195.25.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Insider Activity

In related news, CAO Amie Thuener O'toole sold 2,778 shares of the company's stock in a transaction on 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 sale, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This represents a 13.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock valued at $55,805,379 in the last ninety days. 11.64% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GOOGL has been the topic of a number of analyst reports. Piper Sandler raised their price objective on shares of Alphabet from $220.00 to $285.00 and gave the company an "overweight" rating in a report on Thursday, September 18th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Alphabet in a report on Wednesday, September 3rd. Stifel Nicolaus lifted their price target on Alphabet from $222.00 to $292.00 and gave the stock a "buy" rating in a report on Friday. Wells Fargo & Company set a $236.00 price objective on Alphabet and gave the company an "equal weight" rating in a report on Tuesday, October 7th. Finally, Wolfe Research raised their target price on Alphabet from $220.00 to $290.00 in a research report on Tuesday, September 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $263.20.

Alphabet Company 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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