Angeles Wealth Management LLC Buys 1,008 Shares of Alphabet Inc. $GOOG

Key Points

• Angeles Wealth Management LLC increased its holdings in Alphabet Inc. by 2.5% in the second quarter, acquiring an additional 1,008 shares, bringing its total to 40,892 shares valued at approximately $7.25 million.
• Despite some analyst downgrades, Alphabet received upgraded price targets from Morgan Stanley and Jefferies Financial Group, with new targets set at $270 and $285 respectively.
• Insider sales were noted, including John Kent Walker selling 17,816 shares, resulting in total insider transactions reaching $55.1 million in the last quarter.

Angeles Wealth Management LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,892 shares of the information services provider's stock after purchasing an additional 1,008 shares during the quarter. Alphabet accounts for 0.5% of Angeles Wealth Management LLC's holdings, making the stock its 24th biggest position. Angeles Wealth Management LLC's holdings in Alphabet were worth $7,254,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new stake in Alphabet during the 1st quarter worth approximately $26,000. IFS Advisors LLC increased its stake in Alphabet by 400.0% during 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 increased its stake in Alphabet by 60.0% during 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 increased its stake in Alphabet by 58.7% during 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 increased its stake in Alphabet by 121.3% during 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 institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GOOG shares. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Barclays reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Morgan Stanley upped their price target on Alphabet from $210.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. Finally, Jefferies Financial Group upped their price target on Alphabet from $230.00 to $285.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $244.68.

Alphabet Trading Up 0.8%

NASDAQ:GOOG opened at $253.79 on Monday. The company has a market cap of $3.07 trillion, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 1.72 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 twelve month low of $142.66 and a twelve month high of $257.58. The business has a 50 day moving average price of $232.18 and a two-hundred day moving average price of $193.25.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. The company 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 revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.89 EPS. As a group, analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider John Kent Walker sold 17,816 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company's stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares of the company's stock, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,372 shares of company stock worth $55,110,740 in the last quarter. 12.99% of the stock is owned by company insiders.

Alphabet 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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