Morling Financial Advisors LLC Has $1.55 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Morling Financial Advisors LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 85.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,899 shares of the information services provider's stock after purchasing an additional 4,556 shares during the period. Alphabet makes up approximately 0.5% of Morling Financial Advisors LLC's portfolio, making the stock its 22nd largest position. Morling Financial Advisors LLC's holdings in Alphabet were worth $1,546,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Principia Wealth Advisory LLC boosted its holdings in 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 buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet during the 1st quarter valued at approximately $26,000. LSV Asset Management purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $27,000. Goodman Advisory Group LLC acquired a new stake in shares of Alphabet in the 1st quarter worth approximately $32,000. Finally, WealthTrak Capital Management LLC purchased a new position in Alphabet in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Performance

Alphabet stock traded up $1.69 during midday trading on Thursday, reaching $193.20. 45,163,229 shares of the stock traded hands, compared to its average volume of 26,053,214. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. 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. The firm has a fifty day moving average price of $176.33 and a two-hundred day moving average price of $174.69.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) 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 business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The business's revenue was up 13.8% on a year-over-year basis. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction dated 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 transaction, the director 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet 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 transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 249,409 shares of company stock worth $43,523,710 over the last ninety days. Company insiders own 12.99% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GOOG. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a research report on Wednesday, July 9th. JPMorgan Chase & Co. raised their price target on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday. Cowen reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $215.19.

Alphabet Company 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.