Global Retirement Partners LLC Has $12.06 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Global Retirement Partners LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,131 shares of the information services provider’s stock after acquiring an additional 5,023 shares during the quarter. Global Retirement Partners LLC’s holdings in Alphabet were worth $12,060,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Mitchell & Pahl Private Wealth LLC acquired a new position in Alphabet during the third quarter worth $284,000. Good Life Advisors LLC increased its stake in shares of Alphabet by 18.6% in the third quarter. Good Life Advisors LLC now owns 12,618 shares of the information services provider’s stock valued at $2,110,000 after buying an additional 1,976 shares in the last quarter. Avaii Wealth Management LLC increased its stake in shares of Alphabet by 15.6% in the third quarter. Avaii Wealth Management LLC now owns 1,515 shares of the information services provider’s stock valued at $253,000 after buying an additional 204 shares in the last quarter. One Wealth Advisors LLC increased its stake in shares of Alphabet by 161.3% in the third quarter. One Wealth Advisors LLC now owns 35,880 shares of the information services provider’s stock valued at $5,999,000 after buying an additional 22,151 shares in the last quarter. Finally, Greater Midwest Financial Group LLC acquired a new stake in shares of Alphabet in the third quarter valued at $203,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GOOG. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. Pivotal Research began coverage on Alphabet in a research note on Tuesday, October 1st. They issued a “buy” rating and a $215.00 target price for the company. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. TD Cowen raised their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, UBS Group decreased their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $186.90.

Alphabet Price Performance

Alphabet stock opened at $164.51 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The stock has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.23, a P/E/G ratio of 1.21 and a beta of 1.04. The business’s 50-day simple moving average is $163.18 and its 200 day simple moving average is $169.52.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter last year, the business earned $1.44 earnings per share. The company’s revenue was up 13.6% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 220,426 shares of company stock worth $35,993,340. Insiders own 12.99% of the company’s stock.

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.