Endeavor Private Wealth Inc. Acquires 3,008 Shares of Alphabet Inc. $GOOGL

Key Points

• Endeavor Private Wealth Inc. increased its stake in Alphabet Inc. by 109% during the 2nd quarter, acquiring an additional 3,008 shares, bringing its total holdings to 5,767 shares valued at approximately $1,016,000.
• Analyst ratings for Alphabet indicate strong confidence, with four analysts assigning a Strong Buy rating and a consensus average price target of $252.24.
• Insider transactions revealed significant selling activity, with John Kent Walker selling 23,820 shares valued at $4.6 million, representing a 35.65% decrease in his ownership.

Endeavor Private Wealth Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 109.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,767 shares of the information services provider's stock after acquiring an additional 3,008 shares during the period. Endeavor Private Wealth Inc.'s holdings in Alphabet were worth $1,016,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Missouri Trust & Investment Co boosted its stake in shares of Alphabet by 0.3% in the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider's stock worth $2,981,000 after buying an additional 55 shares during the last quarter. AM Investment Strategies LLC lifted its holdings in Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider's stock valued at $1,141,000 after acquiring an additional 57 shares during the period. Bfsg LLC boosted its position in Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider's stock worth $1,838,000 after purchasing an additional 59 shares during the last quarter. Financial Council LLC grew its stake in shares of Alphabet by 1.0% during the 2nd quarter. Financial Council LLC now owns 5,800 shares of the information services provider's stock valued at $1,022,000 after purchasing an additional 60 shares during the period. Finally, Enzi Wealth grew its stake in shares of Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on GOOGL. Morgan Stanley set a $270.00 price objective on shares of Alphabet and gave the stock an "overweight" rating in a research note on Thursday, October 2nd. Canaccord Genuity Group lifted their price target on shares of Alphabet from $230.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, September 4th. Westpark Capital boosted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Wells Fargo & Company set a $236.00 target price on Alphabet and gave the stock an "equal weight" rating in a report on Tuesday, October 7th. Finally, Needham & Company LLC lifted their target price on Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Four analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $252.24.

Insider Buying and Selling

In other news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 2,778 shares of the company's stock in a transaction on Monday, September 15th. The stock was 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 of the company's stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 246,150 shares of company stock valued at $55,805,379. Corporate insiders own 11.55% of the company's stock.

Alphabet Trading Up 0.7%

Shares of Alphabet stock opened at $253.30 on Monday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $3.06 trillion, a P/E ratio of 26.98, a P/E/G ratio of 1.71 and a beta of 1.00. The company has a fifty day moving average of $231.55 and a 200 day moving average of $192.14.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).

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.