SLT Holdings LLC Takes Position in Alphabet Inc. $GOOGL

Key Points

• SLT Holdings LLC has acquired a new stake in Alphabet Inc., purchasing 1,387 shares valued at approximately $244,000 in the 2nd quarter.
• Alphabet's recent quarterly earnings showed a profit of $2.31 per share, exceeding analyst estimates by $0.16, with revenue reported at $96.43 billion.
• The stock has received a consensus target price of $255.86 and maintains a strong performance with a market capitalization of $3.10 trillion.

SLT Holdings LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,387 shares of the information services provider's stock, valued at approximately $244,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Guardian Wealth Management Inc. boosted its holdings in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. bought a new position in shares of Alphabet during the 1st quarter worth approximately $28,000. IMA Advisory Services Inc. bought a new position in shares of Alphabet during the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC boosted its holdings in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Alphabet during the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Trading Up 1.3%

NASDAQ GOOGL opened at $256.55 on Tuesday. The stock has a market capitalization of $3.10 trillion, a price-to-earnings ratio of 27.32, a PEG ratio of 1.71 and a beta of 1.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $257.33. 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 business's fifty day moving average is $232.66 and its 200-day moving average is $192.92.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on GOOGL. Wedbush upped their price objective on shares of Alphabet from $225.00 to $245.00 and gave the stock an "outperform" rating in a report on Wednesday, September 3rd. Canaccord Genuity Group raised their price objective on shares of Alphabet from $230.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, September 4th. Phillip Securities lowered shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. BNP Paribas Exane reaffirmed a "neutral" rating and issued a $172.00 price objective on shares of Alphabet in a research note on Friday, June 27th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, September 3rd. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $255.86.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares of the company's stock, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 246,150 shares of company stock worth $55,805,379. Insiders own 11.55% of the company's stock.

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.

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