Werba Rubin Papier Wealth Management Increases Stake in Alphabet Inc. $GOOG

Key Points

• Werba Rubin Papier Wealth Management increased its stake in Alphabet Inc. by 8.7% during the second quarter, now holding 13,331 shares valued at approximately $2.37 million.
• Alphabet's revenue for the latest quarter reached $96.43 billion, exceeding estimates and marking a 13.8% year-over-year increase, with an EPS of $2.31 surpassing forecasts.
• Recent trades by insiders indicate a decline in their ownership, with notable sales from CAO Amie Thuener O’toole and Director John L. Hennessy, contributing to a total insider sale of $55 million in the last ninety days.

Werba Rubin Papier Wealth Management grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 8.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,331 shares of the information services provider's stock after buying an additional 1,072 shares during the period. Werba Rubin Papier Wealth Management's holdings in Alphabet were worth $2,365,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in GOOG. Brighton Jones LLC increased its stake in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after buying an additional 6,410 shares during the period. Revisor Wealth Management LLC increased its stake in shares of Alphabet by 107.9% during the first quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider's stock valued at $572,000 after buying an additional 1,899 shares during the period. GAMMA Investing LLC increased its stake in shares of Alphabet by 19.5% during the first quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider's stock valued at $14,323,000 after buying an additional 14,931 shares during the period. Woodmont Investment Counsel LLC increased its stake in shares of Alphabet by 3.5% during the first quarter. Woodmont Investment Counsel LLC now owns 74,093 shares of the information services provider's stock valued at $11,576,000 after buying an additional 2,509 shares during the period. Finally, Canton Hathaway LLC increased its stake in shares of Alphabet by 25.3% during the first quarter. Canton Hathaway LLC now owns 42,140 shares of the information services provider's stock valued at $6,584,000 after buying an additional 8,500 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.8%

Alphabet stock opened at $253.79 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The business's fifty day simple moving average is $232.18 and its two-hundred day simple moving average is $193.25. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $257.58. The company has a market capitalization of $3.07 trillion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 1.72 and a beta of 1.00.

Alphabet (NASDAQ:GOOG - 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 $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the previous year, the company posted $1.89 earnings per share. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O'toole sold 953 shares of the business's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total value of $229,863.60. Following the sale, the chief accounting officer directly owned 17,294 shares of the company's stock, valued at approximately $4,171,312.80. The trade was a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares in the company, valued at $1,242,778.72. This trade represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 243,372 shares of company stock valued at $55,110,740. Company insiders own 12.99% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GOOG shares. Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. Piper Sandler restated a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. UBS Group set a $255.00 price target on Alphabet and gave the company a "neutral" rating in a research report on Thursday, October 9th. Barclays restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Pivotal Research lifted their price target on Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus target price of $244.68.

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.

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