AssuredPartners Investment Advisors LLC Has $894,000 Stake in Alphabet Inc. $GOOG

AssuredPartners Investment Advisors LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 55.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,042 shares of the information services provider’s stock after selling 6,180 shares during the quarter. AssuredPartners Investment Advisors LLC’s holdings in Alphabet were worth $894,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new stake in Alphabet in the 1st quarter valued at about $26,000. IFS Advisors LLC boosted its holdings in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares in the last quarter. Robbins Farley grew its stake in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares during the period. WestEnd Advisors LLC increased its holdings in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares in the last quarter. Finally, Fairman Group LLC increased its holdings in shares of Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on GOOG shares. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Raymond James Financial reaffirmed an “outperform” rating and issued a $210.00 price objective (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Barclays reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Six investment 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 issued a Sell rating to the stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $244.68.

Alphabet Stock Performance

Shares of GOOG stock opened at $253.79 on Monday. The firm has a 50-day moving average of $232.18 and a 200-day moving average of $193.25. The company has a market cap of $3.07 trillion, a P/E ratio of 27.03, a P/E/G ratio of 1.72 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a one year low of $142.66 and a one year high of $257.58.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.89 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 243,372 shares of company stock valued at $55,110,740. Insiders own 12.99% 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.