Chokshi & Queen Wealth Advisors Inc Has $1.68 Million Stock Position in Alphabet Inc. $GOOG

Key Points

• Chokshi & Queen Wealth Advisors Inc increased its position in Alphabet Inc. by 95.1%, owning 9,440 shares valued at approximately $1.68 million as of the latest SEC filing.
• Alphabet's recent earnings report showed EPS of $2.31, surpassing estimates, with revenue of $96.43 billion, marking a 13.8% year-over-year increase.
• Alphabet's stock, currently valued at around $260.51, has a diverse analyst outlook, with ratings ranging from Strong Buy to Sell, and an average target price of $249.68.

Chokshi & Queen Wealth Advisors Inc increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 95.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,440 shares of the information services provider's stock after purchasing an additional 4,601 shares during the period. Alphabet makes up about 1.0% of Chokshi & Queen Wealth Advisors Inc's holdings, making the stock its 17th biggest position. Chokshi & Queen Wealth Advisors Inc's holdings in Alphabet were worth $1,675,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Studio Investment Management LLC grew its stake in Alphabet by 4.3% during the second quarter. Studio Investment Management LLC now owns 4,691 shares of the information services provider's stock worth $832,000 after purchasing an additional 192 shares during the period. Schulhoff & Co. Inc. acquired a new stake in Alphabet during the second quarter worth approximately $239,000. Retirement Planning Group LLC grew its stake in Alphabet by 4.4% in the second quarter. Retirement Planning Group LLC now owns 13,636 shares of the information services provider's stock valued at $2,419,000 after acquiring an additional 569 shares during the period. D.A. Davidson & CO. grew its stake in Alphabet by 9.8% in the second quarter. D.A. Davidson & CO. now owns 325,974 shares of the information services provider's stock valued at $57,825,000 after acquiring an additional 28,974 shares during the period. Finally, Blume Capital Management Inc. grew its stake in Alphabet by 0.3% in the second quarter. Blume Capital Management Inc. now owns 83,965 shares of the information services provider's stock valued at $14,895,000 after acquiring an additional 290 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Performance

Shares of GOOG opened at $260.51 on Friday. The firm has a market cap of $3.15 trillion, a PE ratio of 27.74, a PEG ratio of 1.71 and a beta of 1.00. The stock's fifty day moving average price is $237.33 and its two-hundred day moving average price is $196.32. 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 Inc. has a 1 year low of $142.66 and a 1 year high of $262.51.

Alphabet (NASDAQ:GOOG - 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, beating the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business's revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the sale, the director directly owned 5,116 shares in the company, valued at $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the business's stock in a transaction on Monday, September 29th. The shares were 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 in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 246,150 shares of company stock valued at $55,805,379. 12.99% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of research reports. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Raymond James Financial set a $275.00 price objective on Alphabet and gave the company an "outperform" rating in a research note on Friday. JPMorgan Chase & Co. raised their price objective on Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Mizuho raised Alphabet to a "strong-buy" rating in a research note on Monday, September 29th. Finally, Phillip Securities cut Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $249.68.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.