Riverbend Wealth Management LLC Purchases 185 Shares of Alphabet Inc. $GOOG

Riverbend Wealth Management LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 4.7% during the second quarter, HoldingsChannel reports. The firm owned 4,157 shares of the information services provider’s stock after buying an additional 185 shares during the quarter. Riverbend Wealth Management LLC’s holdings in Alphabet were worth $737,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. RDA Financial Network raised its position in shares of Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after purchasing an additional 554 shares during the period. Tower View Wealth Management LLC grew its stake in shares of Alphabet by 6.9% in the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after acquiring an additional 1,776 shares during the last quarter. Oldfather Financial Services LLC acquired a new stake in shares of Alphabet in the second quarter worth $213,000. Truist Financial Corp grew its stake in shares of Alphabet by 0.4% in the second quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock worth $643,381,000 after acquiring an additional 15,065 shares during the last quarter. Finally, GC Wealth Management RIA LLC grew its stake in shares of Alphabet by 115.7% in the second quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider’s stock worth $38,031,000 after acquiring an additional 115,003 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GOOG shares. Cowen reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, October 8th. Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Scotiabank reiterated an “outperform” rating and set a $310.00 price target on shares of Alphabet in a research note on Thursday. TD Cowen lifted their price target on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $210.00 price target (up previously from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $244.68.

Alphabet Stock Up 0.8%

Shares of NASDAQ:GOOG opened at $253.79 on Monday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $257.58. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company’s fifty day moving average is $232.18 and its 200-day moving average is $193.25. The company has a market capitalization of $3.07 trillion, a PE ratio of 27.03, a P/E/G ratio of 1.72 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) 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 the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.89 EPS. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director owned 6,916 shares in the company, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 243,372 shares of company stock worth $55,110,740 in the last 90 days. Corporate 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.