Buttonwood Financial Advisors Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 11.2% in the second quarter, HoldingsChannel.com reports. The firm owned 2,746 shares of the information services provider’s stock after purchasing an additional 276 shares during the quarter. Alphabet comprises about 5.4% of Buttonwood Financial Advisors Inc.’s investment portfolio, making the stock its 4th biggest holding. Buttonwood Financial Advisors Inc.’s holdings in Alphabet were worth $5,984,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Dravo Bay LLC bought a new position in shares of Alphabet during the first quarter worth $28,000. Wealthgate Family Office LLC bought a new position in shares of Alphabet during the fourth quarter worth $32,000. Financial Enhancement Group LLC bought a new position in shares of Alphabet during the first quarter worth $31,000. Advocacy Wealth Management Services LLC boosted its position in shares of Alphabet by 72.7% during the second quarter. Advocacy Wealth Management Services LLC now owns 19 shares of the information services provider’s stock worth $41,000 after acquiring an additional 8 shares during the last quarter. Finally, Cordant Inc. bought a new position in shares of Alphabet during the first quarter worth $56,000. 1.88% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
GOOGL has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of Alphabet from $160.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, June 29th. Piper Sandler lowered their price objective on shares of Alphabet from $139.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, July 27th. Tigress Financial increased their price objective on shares of Alphabet from $183.00 to $186.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 3rd. Exane BNP Paribas lowered shares of Alphabet from an “outperform” rating to a “neutral” rating in a research report on Wednesday, July 20th. Finally, Rosenblatt Securities increased their price objective on shares of Alphabet from $154.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, September 7th. Five research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $147.41.
Alphabet Trading Down 0.1 %
NASDAQ GOOGL opened at $102.80 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. The company has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09. The company’s 50-day simple moving average is $112.93 and its two-hundred day simple moving average is $118.84. Alphabet Inc. has a one year low of $100.94 and a one year high of $151.55.
Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). The business had revenue of $57.47 billion for the quarter, compared to analysts’ expectations of $57.55 billion. Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same period last year, the business posted $27.26 EPS. Equities analysts forecast that Alphabet Inc. will post 5.21 EPS for the current fiscal year.
Insider Buying and Selling at Alphabet
In other news, Director Ann Mather sold 20 shares of the firm’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the sale, the director now directly owns 565 shares in the company, valued at approximately $1,346,575.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director John L. Hennessy sold 75 shares of the firm’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $2,337.13, for a total value of $175,284.75. Following the sale, the director now directly owns 233 shares in the company, valued at approximately $544,551.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann Mather sold 20 shares of Alphabet stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of the sale, the director now owns 565 shares of the company’s stock, valued at $1,346,575.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,536 shares of company stock valued at $15,729,998. Company insiders own 11.44% of the company’s stock.
Alphabet Company Profile
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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
Further Reading
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