Madison Wealth Partners Inc Buys 1,571 Shares of Alphabet Inc. $GOOG

Key Points

• Madison Wealth Partners Inc increased its position in Alphabet Inc. by 74.4%, owning a total of 3,682 shares valued at approximately $653,000.
• Multiple institutions have made significant adjustments to their holdings in Alphabet, with some firms increasing their stakes by as much as 400.0% during the second quarter.
• Wall Street analysts have mixed ratings on GOOG shares, with a consensus rating of "Moderate Buy" and a price target averaging around $246.26.

Madison Wealth Partners Inc boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 74.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,682 shares of the information services provider's stock after buying an additional 1,571 shares during the period. Madison Wealth Partners Inc's holdings in Alphabet were worth $653,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFS Advisors LLC boosted its holdings 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 purchasing an additional 120 shares in the last quarter. Robbins Farley boosted its holdings 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 purchasing an additional 60 shares in the last quarter. WestEnd Advisors LLC boosted its holdings 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 purchasing an additional 61 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at $26,000. Finally, Fairman Group LLC boosted its holdings 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 purchasing an additional 97 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GOOG shares. Scotiabank reaffirmed an "outperform" rating and issued a $310.00 target price on shares of Alphabet in a report on Thursday, October 16th. Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Phillip Securities downgraded Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, September 8th. Morgan Stanley raised their price objective on Alphabet from $210.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, October 2nd. Finally, Jefferies Financial Group raised their price objective on Alphabet from $230.00 to $285.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $246.26.

Alphabet Stock Performance

Shares of GOOG opened at $252.53 on Thursday. 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 stock has a 50-day moving average of $235.22 and a 200-day moving average of $194.81. The company has a market cap of $3.05 trillion, a PE ratio of 26.89, a P/E/G ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a one year low of $142.66 and a one year high of $257.88.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results 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 period last year, the business posted $1.89 EPS. On average, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Amie Thuener O'toole sold 2,778 shares of the firm's stock in a transaction dated Wednesday, October 15th. The stock was 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 in the company, valued at $3,629,725.80. This trade represents a 16.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the transaction, the director owned 5,116 shares of the company's stock, valued at $1,242,778.72. This trade represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 246,150 shares of company stock worth $55,805,379 over the last 90 days. 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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