Total Clarity Wealth Management Inc. Boosts Stock Position in Alphabet Inc. $GOOGL

Key Points

• Total Clarity Wealth Management Inc. increased its stake in Alphabet Inc. (GOOGL) by 14.9%, owning 24,879 shares valued at approximately $4.38 million as of the end of the second quarter.
• A number of analysts have raised their price targets for Alphabet, with Oppenheimer increasing it from $270 to $300 and a consensus rating of "Moderate Buy" among analysts.
• Insider transactions show CEO Sundar Pichai sold 32,500 shares at $250.15 each, marking a 1.35% decrease in his ownership of the company.

Total Clarity Wealth Management Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 14.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,879 shares of the information services provider's stock after buying an additional 3,227 shares during the period. Alphabet comprises about 1.3% of Total Clarity Wealth Management Inc.'s holdings, making the stock its 22nd largest position. Total Clarity Wealth Management Inc.'s holdings in Alphabet were worth $4,384,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GOOGL. Guardian Wealth Management Inc. lifted its stake in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in Alphabet in the first quarter valued at approximately $28,000. IMA Advisory Services Inc. acquired a new stake in Alphabet during the first quarter worth approximately $28,000. NBZ Investment Advisors LLC lifted its position 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 during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $39,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GOOGL shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Alphabet in a research report on Wednesday, October 8th. Sanford C. Bernstein raised their price objective on Alphabet from $210.00 to $260.00 and gave the stock a "market perform" rating in a report on Wednesday. DA Davidson lifted their target price on Alphabet from $180.00 to $190.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 2nd. Cantor Fitzgerald upped their target price on Alphabet from $201.00 to $265.00 and gave the company a "neutral" rating in a research report on Monday, October 13th. Finally, Oppenheimer lifted their price target on Alphabet from $270.00 to $300.00 and gave the stock an "outperform" rating in a research report on Monday. Four analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $259.12.

Alphabet Stock Performance

Shares of GOOGL opened at $253.08 on Friday. The stock has a market capitalization of $3.06 trillion, a P/E ratio of 26.95, a P/E/G ratio of 1.70 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $257.33. The company's fifty day moving average is $235.60 and its two-hundred day moving average is $194.45.

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

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares of the company's stock, valued at $592,760,192.85. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The shares were 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 in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock valued at $55,805,379 over the last 90 days. Insiders own 11.64% of the company's stock.

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.

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.