IFC Advisors LLC Has $6.53 Million Position in Alphabet Inc. $GOOGL

IFC Advisors LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,070 shares of the information services provider's stock after buying an additional 1,065 shares during the quarter. Alphabet accounts for about 1.2% of IFC Advisors LLC's portfolio, making the stock its 16th largest holding. IFC Advisors LLC's holdings in Alphabet were worth $6,533,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Guardian Wealth Management Inc. raised its position in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares in the last quarter. IMA Advisory Services Inc. acquired a new position in shares of Alphabet in the 1st quarter valued at approximately $28,000. von Borstel & Associates Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC grew its holdings in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its holdings in shares of Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider's stock valued at $44,000 after purchasing an additional 67 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 2.7%

GOOGL opened at $259.92 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $261.68. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $3.14 trillion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.71 and a beta of 1.00. The company's 50 day moving average price is $236.72 and its two-hundred day moving average price is $195.25.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data 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. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. As a group, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Frances Arnold sold 103 shares of the company's stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director directly owned 17,284 shares of the company's stock, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of the company's stock in a transaction on Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares in the company, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 246,150 shares of company stock worth $55,805,379. Corporate insiders own 11.64% of the company's stock.

Analyst Ratings Changes

GOOGL has been the topic of several research reports. Piper Sandler lifted their price target on shares of Alphabet from $220.00 to $285.00 and gave the company an "overweight" rating in a report on Thursday, September 18th. Wedbush lifted their price target on shares of Alphabet from $225.00 to $245.00 and gave the company an "outperform" rating in a report on Wednesday, September 3rd. Citigroup lifted their price target on shares of Alphabet from $225.00 to $280.00 and gave the company a "buy" rating in a report on Monday, September 15th. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Alphabet in a report on Tuesday, October 14th. Finally, Barclays lifted their price target on shares of Alphabet from $235.00 to $250.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Four investment 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 MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $263.20.

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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