Lyell Wealth Management LP Has $16.52 Million Holdings in Alphabet Inc. $GOOG

Key Points

• Lyell Wealth Management LP increased its holdings in Alphabet Inc. by 2.4% in Q2, bringing its total to $16.52 million with 93,102 shares owned.
• Research firms are optimistic about Alphabet, with six analysts giving it a Strong Buy rating and a consensus price target of $246.26.
• Insider selling activity included John Kent Walker selling 17,816 shares, reducing his position by 29.30%, marking a total of 246,150 shares sold by insiders last quarter.

Lyell Wealth Management LP grew its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,102 shares of the information services provider's stock after acquiring an additional 2,147 shares during the quarter. Alphabet accounts for 1.3% of Lyell Wealth Management LP's holdings, making the stock its 21st biggest position. Lyell Wealth Management LP's holdings in Alphabet were worth $16,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of GOOG. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet in the 1st quarter valued at about $26,000. IFS Advisors LLC increased its stake in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock valued at $27,000 after acquiring an additional 120 shares during the last quarter. Robbins Farley increased its stake in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider's stock valued at $28,000 after acquiring an additional 60 shares during the last quarter. WestEnd Advisors LLC increased its stake in shares of Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider's stock valued at $29,000 after acquiring an additional 61 shares during the last quarter. Finally, Fairman Group LLC increased its stake in shares of Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider's stock valued at $31,000 after acquiring an additional 97 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GOOG. Mizuho raised Alphabet to a "strong-buy" rating in a research note on Monday, September 29th. Pivotal Research increased their target price on Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Oppenheimer set a $300.00 target price on Alphabet and gave the stock an "outperform" rating in a research note on Monday. Phillip Securities cut Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. Finally, Jefferies Financial Group increased their target price on Alphabet from $230.00 to $285.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $246.26.

Alphabet Trading Up 0.5%

NASDAQ:GOOG opened at $252.53 on Thursday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $257.88. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average price of $235.22 and a two-hundred day moving average price of $194.81. The company has a market cap of $3.05 trillion, a P/E ratio of 26.89, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.89 EPS. As a group, analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider John Kent Walker sold 17,816 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was 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 of the company's stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 2,778 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares of the company's stock, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock worth $55,805,379 in the last quarter. 12.99% of the stock is owned by company insiders.

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.

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