Atlas Private Wealth Advisors Raises Stock Holdings in Alphabet Inc. $GOOG

Atlas Private Wealth Advisors raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,395 shares of the information services provider’s stock after purchasing an additional 329 shares during the period. Atlas Private Wealth Advisors’ holdings in Alphabet were worth $3,619,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Aviance Capital Partners LLC grew its holdings in Alphabet by 0.5% during the second quarter. Aviance Capital Partners LLC now owns 17,822 shares of the information services provider’s stock valued at $3,162,000 after purchasing an additional 86 shares during the period. Lifeworks Advisors LLC grew its holdings in Alphabet by 6.0% during the second quarter. Lifeworks Advisors LLC now owns 1,673 shares of the information services provider’s stock valued at $297,000 after purchasing an additional 95 shares during the period. Center for Financial Planning Inc. grew its holdings in Alphabet by 2.0% during the second quarter. Center for Financial Planning Inc. now owns 19,592 shares of the information services provider’s stock valued at $3,475,000 after purchasing an additional 375 shares during the period. Twin City Private Wealth LLC grew its holdings in Alphabet by 1.3% during the second quarter. Twin City Private Wealth LLC now owns 6,497 shares of the information services provider’s stock valued at $1,152,000 after purchasing an additional 83 shares during the period. Finally, Balentine LLC grew its holdings in Alphabet by 14.8% during the second quarter. Balentine LLC now owns 4,502 shares of the information services provider’s stock valued at $799,000 after purchasing an additional 580 shares during the period. 27.26% of the stock is owned by institutional investors.

Alphabet Price Performance

Alphabet stock opened at $281.82 on Monday. Alphabet Inc. has a one year low of $142.66 and a one year high of $291.93. The business has a fifty day moving average price of $244.59 and a 200-day moving average price of $201.30. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $3.41 trillion, a P/E ratio of 27.79, a PEG ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter last year, the business posted $2.12 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the 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 sale, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 103 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director owned 17,284 shares in the company, valued at $4,202,258.92. This trade represents a 0.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 222,330 shares of company stock valued at $51,167,625 in the last ninety days. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GOOG. DA Davidson set a $825.00 price objective on Alphabet in a report on Monday, October 27th. Rosenblatt Securities set a $279.00 price objective on Alphabet in a report on Thursday. Sanford C. Bernstein raised their price target on Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday. TD Cowen raised their price target on Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, Jefferies Financial Group raised their price target on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $324.81.

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.