Arista Wealth Management LLC Grows Stock Holdings in Alphabet Inc. $GOOG

Key Points

• Arista Wealth Management LLC increased its holdings in Alphabet Inc. by 110.9% during the 2nd quarter, owning a total of 4,586 shares valued at approximately $813,000 as per its latest SEC filing.
• Alphabet recently reported $2.31 earnings per share for the last quarter, surpassing analyst expectations, with revenues reaching $96.43 billion—an increase of 13.8% year-over-year.
• Several analysts have raised their price targets for Alphabet, with the new consensus target now set at $246.26, indicating a potential for continued growth in the stock's value.

Arista Wealth Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 110.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,586 shares of the information services provider's stock after purchasing an additional 2,412 shares during the period. Arista Wealth Management LLC's holdings in Alphabet were worth $813,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GOOG. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet during the first quarter valued at approximately $26,000. IFS Advisors LLC increased its position in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock valued at $27,000 after acquiring an additional 120 shares in the last quarter. Robbins Farley increased its position in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider's stock valued at $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC increased its position in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider's stock valued at $29,000 after acquiring an additional 61 shares in the last quarter. Finally, Fairman Group LLC increased its position in shares of Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider's stock valued at $31,000 after acquiring an additional 97 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 1.3%

Shares of Alphabet stock opened at $257.02 on Tuesday. The company's fifty day simple moving average is $233.29 and its 200-day simple moving average is $194.01. The stock has a market capitalization of $3.11 trillion, a PE ratio of 27.37, a P/E/G ratio of 1.72 and a beta of 1.00. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $257.88. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company's revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.89 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. This trade represents a 1.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock worth $55,805,379 in the last 90 days. 12.99% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Morgan Stanley lifted their target price on shares of Alphabet from $210.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. Jefferies Financial Group lifted their target price on shares of Alphabet from $230.00 to $285.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Hsbc Global Res raised shares of Alphabet to a "strong-buy" rating in a research report on Tuesday, October 7th. Finally, Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Six investment 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 issued a Sell rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $246.26.

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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