Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Ropes Wealth Advisors LLC

Ropes Wealth Advisors LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 18.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,105 shares of the information services provider’s stock after acquiring an additional 334 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Alphabet were worth $4,860,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Centric Wealth Management lifted its holdings in Alphabet by 3.7% in the 4th quarter. Centric Wealth Management now owns 361 shares of the information services provider’s stock worth $632,000 after buying an additional 13 shares in the last quarter. FWL Investment Management LLC acquired a new position in Alphabet in the 4th quarter worth $7,256,000. Sage Mountain Advisors LLC acquired a new position in Alphabet in the 4th quarter worth $806,000. Ironwood Wealth Management LLC. lifted its holdings in Alphabet by 876.0% in the 4th quarter. Ironwood Wealth Management LLC. now owns 732 shares of the information services provider’s stock worth $1,282,000 after buying an additional 657 shares in the last quarter. Finally, Meritage Portfolio Management lifted its holdings in Alphabet by 21.5% in the 4th quarter. Meritage Portfolio Management now owns 294 shares of the information services provider’s stock worth $515,000 after buying an additional 52 shares in the last quarter. Institutional investors and hedge funds own 31.73% of the company’s stock.

GOOG has been the topic of a number of recent analyst reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lowered shares of Alphabet from a “buy” rating to a “neutral” rating in a report on Monday, May 10th. Mizuho boosted their price objective on shares of Alphabet from $2,350.00 to $2,600.00 and gave the stock a “buy” rating in a report on Monday, April 19th. Wedbush initiated coverage on shares of Alphabet in a research note on Wednesday, April 14th. They issued an “outperform” rating and a $2,953.00 target price on the stock. Evercore ISI restated an “outperform” rating and issued a $2,525.00 target price on shares of Alphabet in a research note on Tuesday, April 13th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research note on Wednesday, April 28th. Three analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $2,495.63.

In other Alphabet news, Director John L. Hennessy sold 70 shares of the company’s stock in a transaction dated Monday, June 7th. The shares were sold at an average price of $2,449.71, for a total value of $171,479.70. Following the completion of the transaction, the director now owns 128 shares in the company, valued at approximately $313,562.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP John Kent Walker sold 2,570 shares of the company’s stock in a transaction dated Monday, March 29th. The stock was sold at an average price of $2,037.34, for a total transaction of $5,235,963.80. Following the completion of the transaction, the senior vice president now owns 26,707 shares of the company’s stock, valued at approximately $54,411,239.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,998 shares of company stock valued at $132,704,290. 12.99% of the stock is owned by insiders.

Shares of NASDAQ:GOOG traded down $10.91 during trading on Friday, reaching $2,510.69. 13,163 shares of the company’s stock traded hands, compared to its average volume of 1,477,568. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 3.09. Alphabet Inc. has a 12 month low of $1,347.01 and a 12 month high of $2,523.26. The company’s 50 day moving average is $2,344.39. The stock has a market cap of $1.68 trillion, a PE ratio of 33.57, a P/E/G ratio of 1.52 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Monday, April 26th. The information services provider reported $26.29 EPS for the quarter, topping the consensus estimate of $15.74 by $10.55. Alphabet had a net margin of 26.11% and a return on equity of 23.54%. The firm had revenue of $55.30 billion during the quarter, compared to analysts’ expectations of $51.40 billion. During the same quarter in the prior year, the firm earned $9.87 EPS. Alphabet’s quarterly revenue was up 34.4% on a year-over-year basis. On average, research analysts anticipate that Alphabet Inc. will post 89.46 EPS for the current year.

Alphabet Company Profile

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

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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