Lord & Richards Wealth Management LLC Buys Shares of 3,689 Alphabet Inc. (NASDAQ:GOOGL)

Lord & Richards Wealth Management LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,689 shares of the information services provider's stock, valued at approximately $570,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Mountain Hill Investment Partners Corp. lifted its position in shares of Alphabet by 50.0% during the 1st quarter. Mountain Hill Investment Partners Corp. now owns 600 shares of the information services provider's stock valued at $93,000 after buying an additional 200 shares in the last quarter. BluePointe Capital Management LLC increased its stake in shares of Alphabet by 52.9% in the 1st quarter. BluePointe Capital Management LLC now owns 8,841 shares of the information services provider's stock worth $1,367,000 after acquiring an additional 3,058 shares during the last quarter. Prevail Innovative Wealth Advisors LLC increased its stake in shares of Alphabet by 101.1% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 5,151 shares of the information services provider's stock worth $797,000 after acquiring an additional 2,589 shares during the last quarter. Grey Fox Wealth Advisors LLC increased its stake in shares of Alphabet by 2.9% in the 1st quarter. Grey Fox Wealth Advisors LLC now owns 11,250 shares of the information services provider's stock worth $1,740,000 after acquiring an additional 312 shares during the last quarter. Finally, Graybill Wealth Management LTD. acquired a new stake in shares of Alphabet during the 1st quarter worth about $10,268,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Trading Up 1.9%

NASDAQ:GOOGL traded up $3.70 on Thursday, hitting $193.93. The stock had a trading volume of 56,671,075 shares, compared to its average volume of 36,920,125. The company has a fifty day moving average price of $174.67 and a two-hundred day moving average price of $173.13. 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 1-year low of $140.53 and a 1-year high of $207.05. The stock has a market cap of $2.35 trillion, a price-to-earnings ratio of 21.62, a PEG ratio of 1.34 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period last year, the business earned $1.89 EPS. Equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 400 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the transaction, the director owned 6,013 shares in the company, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 249,409 shares of company stock worth $43,523,710. 11.64% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GOOGL shares. UBS Group lifted their price objective on Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research note on Thursday. Westpark Capital boosted their target price on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday. JMP Securities upped their price objective on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a report on Thursday. Piper Sandler upped their target price on Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Wells Fargo & Company upped their price objective on Alphabet from $177.00 to $184.00 and gave the company an "equal weight" rating in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus target price of $210.79.

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.