1,559 Shares in Alphabet Inc. (NASDAQ:GOOG) Acquired by Innova Wealth Partners

Innova Wealth Partners acquired a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,559 shares of the information services provider's stock, valued at approximately $244,000.

Other large investors have also recently made changes to their positions in the company. Principia Wealth Advisory LLC increased its position in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet during the first quarter worth approximately $26,000. LSV Asset Management purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $27,000. Goodman Advisory Group LLC purchased a new stake in shares of Alphabet during the first quarter worth approximately $32,000. Finally, WealthTrak Capital Management LLC acquired a new position in Alphabet during the fourth quarter worth $38,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 400 shares of the company's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the sale, the director owned 6,013 shares in the company, valued at $1,094,245.74. This represents a 6.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the sale, the chief executive officer owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 249,409 shares of company stock worth $43,523,710 in the last quarter. 12.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Oppenheimer reiterated an "outperform" rating and set a $235.00 price target (up previously from $220.00) on shares of Alphabet in a report on Thursday. Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Scotiabank lifted their price target on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a report on Tuesday. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Finally, Cowen reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $215.19.

Alphabet Stock Up 0.9%

NASDAQ GOOG traded up $1.69 during trading hours on Thursday, hitting $193.20. 45,163,229 shares of the company were exchanged, compared to its average volume of 26,053,214. The company has a 50 day moving average of $176.33 and a two-hundred day moving average of $174.69. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The firm has a market cap of $2.34 trillion, a price-to-earnings ratio of 20.58, a PEG ratio of 1.33 and a beta of 1.01.

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. Alphabet had a return on equity of 35.22% and a net margin of 31.12%. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the prior year, the business earned $1.89 EPS. Alphabet's revenue was up 13.8% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

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.