Triton Wealth Management PLLC Takes Position in Alphabet Inc. $GOOGL

Key Points

• Triton Wealth Management PLLC acquired a new stake in Alphabet Inc., purchasing 4,343 shares valued at approximately $835,000 during the second quarter.
• Several large investors, including Guardian Wealth Management Inc. and NBZ Investment Advisors LLC, also enhanced their positions in GOOGL during the first quarter, with Guardian increasing its holdings by 242.9%.
• Analysts have positive outlooks for GOOGL, with recent price target increases to between $224.00 and $285.00, reflecting a consensus rating of "Moderate Buy" for the stock.

Triton Wealth Management PLLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,343 shares of the information services provider's stock, valued at approximately $835,000.

Several other large investors also recently made changes to their positions in GOOGL. Guardian Wealth Management Inc. boosted its position 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 valued at $26,000 after purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. bought a new position in shares of Alphabet during the 1st quarter valued at about $28,000. IMA Advisory Services Inc. bought a new position in shares of Alphabet during the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC boosted its holdings in shares of Alphabet by 85.7% in the first 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 period. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet in the first quarter worth about $39,000. Institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GOOGL shares. Truist Financial boosted their price target on shares of Alphabet from $225.00 to $285.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Piper Sandler boosted their price target on shares of Alphabet from $220.00 to $285.00 and gave the company an "overweight" rating in a report on Thursday, September 18th. Citigroup boosted their price target on shares of Alphabet from $225.00 to $280.00 and gave the company a "buy" rating in a report on Monday, September 15th. Rosenblatt Securities boosted their price target on shares of Alphabet from $191.00 to $224.00 and gave the company a "neutral" rating in a report on Wednesday, September 3rd. Finally, Jefferies Financial Group boosted their price target on shares of Alphabet from $230.00 to $285.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $263.55.

Alphabet Trading Up 2.7%

Shares of NASDAQ GOOGL opened at $259.92 on Friday. The stock has a market cap of $3.14 trillion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.75 and a beta of 1.00. The business has a 50 day simple moving average of $236.72 and a 200 day simple moving average of $195.60. 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 52 week low of $140.53 and a 52 week high of $261.68.

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

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the firm'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 transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O'toole sold 2,778 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 246,150 shares of company stock valued at $55,805,379. 11.64% of the stock is currently owned by corporate insiders.

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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