1,435 Shares in Alphabet Inc. $GOOGL Acquired by Shikiar Asset Management Inc.

Shikiar Asset Management Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,435 shares of the information services provider’s stock, valued at approximately $253,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Guardian Wealth Management Inc. increased its holdings in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $28,000. von Borstel & Associates Inc. acquired a new position in Alphabet in the first quarter valued at $28,000. NBZ Investment Advisors LLC increased its position in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOGL opened at $253.30 on Monday. The stock has a market capitalization of $3.06 trillion, a P/E ratio of 26.98, a P/E/G ratio of 1.71 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 $256.96. The company’s fifty day moving average is $231.55 and its two-hundred day moving average is $192.14.

Alphabet (NASDAQ:GOOGL) 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 Buying and Selling

In related news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred 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 sale, the director directly owned 5,116 shares in the company, valued at $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, the chief accounting officer directly owned 14,516 shares in the company, valued at $3,629,725.80. This represents a 16.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock worth $55,805,379 in the last three months. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. DA Davidson raised their price target on Alphabet from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $288.00 price objective on shares of Alphabet in a report on Tuesday, October 14th. Jefferies Financial Group lifted their target price on shares of Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Mizuho set a $295.00 price target on shares of Alphabet and gave the company an “outperform” rating in a research report on Monday, September 29th. Finally, Piper Sandler increased their price target on shares of Alphabet from $220.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Four equities research 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $252.24.

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.