Aaron Wealth Advisors LLC Increases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Aaron Wealth Advisors LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 23.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,274 shares of the information services provider’s stock after buying an additional 5,440 shares during the period. Alphabet makes up about 0.6% of Aaron Wealth Advisors LLC’s holdings, making the stock its 27th biggest holding. Aaron Wealth Advisors LLC’s holdings in Alphabet were worth $4,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in GOOG. Inscription Capital LLC lifted its stake in Alphabet by 26.7% in the first quarter. Inscription Capital LLC now owns 62,735 shares of the information services provider’s stock worth $9,921,000 after purchasing an additional 13,234 shares during the last quarter. Aprio Wealth Management LLC grew its holdings in shares of Alphabet by 52.4% in the first quarter. Aprio Wealth Management LLC now owns 6,603 shares of the information services provider’s stock worth $1,005,000 after purchasing an additional 2,271 shares during the last quarter. Atwood & Palmer Inc. increased its stake in shares of Alphabet by 0.3% in the first quarter. Atwood & Palmer Inc. now owns 243,092 shares of the information services provider’s stock worth $37,013,000 after buying an additional 689 shares during the period. Buckingham Capital Management Inc. raised its holdings in Alphabet by 1.2% during the 1st quarter. Buckingham Capital Management Inc. now owns 130,722 shares of the information services provider’s stock valued at $19,904,000 after buying an additional 1,586 shares during the last quarter. Finally, CVA Family Office LLC boosted its position in Alphabet by 23.9% during the 1st quarter. CVA Family Office LLC now owns 3,320 shares of the information services provider’s stock valued at $506,000 after buying an additional 640 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $164.95, for a total transaction of $247,425.00. Following the transaction, the director now directly owns 26,324 shares of the company’s stock, valued at $4,342,143.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock worth $35,993,340 over the last 90 days. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

GOOG stock opened at $165.05 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm has a 50 day moving average price of $163.18 and a 200-day moving average price of $169.58. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The firm has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.31, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 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 period in the prior year, the firm posted $1.44 earnings per share. The company’s quarterly revenue was up 13.6% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. TD Cowen increased their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Scotiabank initiated coverage on Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target for the company. Finally, UBS Group decreased their price objective on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $186.90.

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.