Global Retirement Partners LLC Increases Stock Position in Alphabet Inc (NASDAQ:GOOG)

Global Retirement Partners LLC grew its position in Alphabet Inc (NASDAQ:GOOG) by 3.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,208 shares of the information services provider’s stock after purchasing an additional 39 shares during the period. Global Retirement Partners LLC’s holdings in Alphabet were worth $1,775,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Virtus ETF Advisers LLC bought a new position in Alphabet during the second quarter valued at about $38,000. Campbell Wealth Management bought a new position in Alphabet during the second quarter valued at about $41,000. Prestige Wealth Management Group LLC grew its position in Alphabet by 1,700.0% during the first quarter. Prestige Wealth Management Group LLC now owns 36 shares of the information services provider’s stock valued at $42,000 after buying an additional 34 shares during the period. Islay Capital Management LLC grew its position in Alphabet by 40.0% during the second quarter. Islay Capital Management LLC now owns 35 shares of the information services provider’s stock valued at $49,000 after buying an additional 10 shares during the period. Finally, Cedar Mountain Advisors LLC grew its position in Alphabet by 34.4% during the second quarter. Cedar Mountain Advisors LLC now owns 43 shares of the information services provider’s stock valued at $61,000 after buying an additional 11 shares during the period. Institutional investors own 32.42% of the company’s stock.

A number of equities analysts have weighed in on the stock. Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Friday, July 31st. Zacks Investment Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,664.00 target price for the company in a research report on Wednesday. Jefferies Financial Group reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, September 29th. Stifel Nicolaus lowered shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Friday, July 31st. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Alphabet in a research report on Friday, July 31st. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $1,696.62.

In other Alphabet news, Director Ann Mather sold 22 shares of Alphabet stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $1,484.27, for a total transaction of $32,653.94. Following the transaction, the director now directly owns 1,134 shares of the company’s stock, valued at $1,683,162.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 60 shares of Alphabet stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $1,538.29, for a total transaction of $92,297.40. Following the transaction, the director now directly owns 517 shares in the company, valued at $795,295.93. The disclosure for this sale can be found here. Insiders sold 142 shares of company stock worth $213,357 over the last ninety days. 12.99% of the stock is currently owned by insiders.

GOOG traded up $29.29 on Friday, reaching $1,515.22. The company had a trading volume of 1,435,289 shares, compared to its average volume of 1,949,849. The business has a 50 day simple moving average of $1,532.77 and a 200 day simple moving average of $1,421.23. The company has a market cap of $1,030.60 billion, a price-to-earnings ratio of 33.32, a P/E/G ratio of 2.05 and a beta of 1.10. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.40 and a current ratio of 3.41. Alphabet Inc has a 52-week low of $1,013.54 and a 52-week high of $1,733.18.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, beating analysts’ consensus estimates of $8.43 by $1.70. The business had revenue of $31.60 billion for the quarter, compared to the consensus estimate of $30.58 billion. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. As a group, equities research analysts predict that Alphabet Inc will post 44.84 EPS for the current fiscal year.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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