Prudent Man Advisors LLC Buys 6,328 Shares of Alphabet Inc. $GOOG

Prudent Man Advisors LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 47.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 19,707 shares of the information services provider’s stock after purchasing an additional 6,328 shares during the quarter. Alphabet accounts for approximately 1.1% of Prudent Man Advisors LLC’s portfolio, making the stock its 17th largest position. Prudent Man Advisors LLC’s holdings in Alphabet were worth $3,496,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. IFS Advisors LLC grew its position in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after buying an additional 120 shares during the last quarter. Robbins Farley grew its position in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares during the last quarter. WestEnd Advisors LLC grew its position in shares of Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after buying an additional 61 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet in the 1st quarter worth approximately $26,000. Finally, Fairman Group LLC grew its position in shares of Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after buying an additional 97 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GOOG. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Mizuho upgraded Alphabet to a “strong-buy” rating in a research note on Monday, September 29th. Lake Street Capital restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Scotiabank restated an “outperform” rating and issued a $310.00 target price on shares of Alphabet in a research note on Thursday, October 16th. Finally, Barclays restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Five research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.45.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at approximately $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 246,150 shares of company stock worth $55,805,379. 12.99% of the stock is owned by insiders.

Alphabet Stock Down 0.6%

Shares of NASDAQ:GOOG opened at $268.43 on Wednesday. The stock has a fifty day simple moving average of $239.97 and a two-hundred day simple moving average of $198.46. The stock has a market capitalization of $3.25 trillion, a price-to-earnings ratio of 28.59, a PEG ratio of 1.82 and a beta of 1.00. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $271.38. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

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.