Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Altman Advisors Inc.

Altman Advisors Inc. increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 35.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,254 shares of the information services provider's stock after purchasing an additional 9,180 shares during the quarter. Alphabet makes up approximately 2.4% of Altman Advisors Inc.'s portfolio, making the stock its 9th largest position. Altman Advisors Inc.'s holdings in Alphabet were worth $5,598,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet in the 1st quarter valued at $28,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Alphabet during the 1st quarter worth about $39,000. Elite Financial Inc. acquired a new position in shares of Alphabet during the 1st quarter valued at about $42,000. Anderson Financial Strategies LLC acquired a new position in shares of Alphabet during the 4th quarter valued at about $49,000. Finally, EQ Wealth Advisors LLC bought a new position in shares of Alphabet in the 1st quarter valued at approximately $49,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 1.0%

NASDAQ GOOGL traded up $1.94 on Thursday, reaching $192.17. The company had a trading volume of 74,740,490 shares, compared to its average volume of 39,272,972. The company's fifty day moving average is $175.23 and its 200-day moving average is $173.10. The firm has a market capitalization of $2.33 trillion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 35.22% and a net margin of 31.12%. During the same period last year, the company earned $1.89 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on GOOGL. JPMorgan Chase & Co. increased their price target on Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday. Piper Sandler raised their target price on shares of Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday. Wells Fargo & Company boosted their target price on shares of Alphabet from $177.00 to $184.00 and gave the stock an "equal weight" rating in a research report on Thursday. Truist Financial restated a "buy" rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday, July 2nd. Finally, Westpark Capital lifted their price objective on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $211.32.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 249,409 shares of company stock valued at $43,523,710. Insiders own 11.64% of the company's stock.

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.