Wescott Financial Advisory Group LLC Invests $847,000 in Alphabet Inc. (NASDAQ:GOOGL)

Wescott Financial Advisory Group LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 311 shares of the information services provider’s stock, valued at approximately $847,000. Alphabet accounts for 0.5% of Wescott Financial Advisory Group LLC’s investment portfolio, making the stock its 27th biggest position.

Several other hedge funds have also recently bought and sold shares of the stock. Resonant Capital Advisors LLC increased its stake in Alphabet by 1.5% in the 2nd quarter. Resonant Capital Advisors LLC now owns 269 shares of the information services provider’s stock valued at $657,000 after purchasing an additional 4 shares in the last quarter. Allied Investment Advisors LLC increased its stake in Alphabet by 3.5% in the 2nd quarter. Allied Investment Advisors LLC now owns 119 shares of the information services provider’s stock valued at $291,000 after purchasing an additional 4 shares in the last quarter. Capital Investment Counsel Inc grew its holdings in Alphabet by 0.3% during the 2nd quarter. Capital Investment Counsel Inc now owns 1,381 shares of the information services provider’s stock valued at $3,372,000 after buying an additional 4 shares during the last quarter. New Potomac Partners LLC grew its holdings in Alphabet by 2.3% during the 2nd quarter. New Potomac Partners LLC now owns 176 shares of the information services provider’s stock valued at $430,000 after buying an additional 4 shares during the last quarter. Finally, Atlas Private Wealth Advisors grew its holdings in Alphabet by 2.9% during the 2nd quarter. Atlas Private Wealth Advisors now owns 144 shares of the information services provider’s stock valued at $352,000 after buying an additional 4 shares during the last quarter. Hedge funds and other institutional investors own 34.43% of the company’s stock.

Shares of GOOGL stock traded up $26.06 during midday trading on Wednesday, hitting $2,876.95. 50,885 shares of the company were exchanged, compared to its average volume of 1,521,662. The firm has a market capitalization of $1.92 trillion, a P/E ratio of 31.20, a PEG ratio of 1.83 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.14 and a current ratio of 3.15. The firm’s 50 day moving average price is $2,721.31 and its two-hundred day moving average price is $2,428.14. Alphabet Inc. has a 52 week low of $1,402.15 and a 52 week high of $2,925.07.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, July 26th. The information services provider reported $27.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $19.89 by $7.37. The business had revenue of $50.95 billion during the quarter, compared to analysts’ expectations of $46.07 billion. Alphabet had a net margin of 28.57% and a return on equity of 27.87%. During the same period in the prior year, the company earned $10.13 EPS. Analysts expect that Alphabet Inc. will post 101.86 EPS for the current year.

A number of brokerages recently weighed in on GOOGL. Susquehanna lifted their target price on Alphabet from $3,100.00 to $3,600.00 and gave the company a “positive” rating in a report on Wednesday, July 28th. Truist Securities boosted their price objective on Alphabet from $2,800.00 to $3,100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. KeyCorp boosted their target price on shares of Alphabet from $2,681.00 to $3,071.00 and gave the company an “overweight” rating in a research note on Wednesday, July 28th. BMO Capital Markets boosted their target price on shares of Alphabet from $2,700.00 to $3,000.00 and gave the company an “outperform” rating in a research note on Wednesday, July 28th. Finally, The Goldman Sachs Group began coverage on shares of Alphabet in a research note on Monday. They set a “buy” rating and a $3,350.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and thirty-nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $2,841.72.

About Alphabet

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

Further Reading: Initial Coin Offering (ICO)

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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