Rappaport Reiches Capital Management LLC Acquires 634 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Rappaport Reiches Capital Management LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 7,484 shares of the information services provider’s stock after purchasing an additional 634 shares during the quarter. Rappaport Reiches Capital Management LLC’s holdings in Alphabet were worth $1,241,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in GOOGL. New Hampshire Trust raised its holdings in Alphabet by 2.7% in the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after acquiring an additional 1,132 shares in the last quarter. Berkshire Money Management Inc. acquired a new position in Alphabet in the 1st quarter valued at approximately $359,000. Schneider Downs Wealth Management Advisors LP raised its holdings in Alphabet by 58.4% in the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after acquiring an additional 2,351 shares in the last quarter. Sanders Morris Harris LLC acquired a new position in Alphabet in the 1st quarter valued at approximately $842,000. Finally, Trinity Financial Advisors LLC raised its holdings in Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after acquiring an additional 190 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Tuesday. JMP Securities reaffirmed a “market outperform” rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, September 25th. Citigroup increased their target price on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Argus increased their target price on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Jefferies Financial Group increased their target price on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $201.76.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the sale, the director now directly owns 28,524 shares in the company, valued at $4,385,565. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,426 shares of company stock valued at $35,993,340. 11.55% of the stock is owned by company insiders.

Alphabet Stock Up 0.3 %

NASDAQ:GOOGL opened at $163.42 on Friday. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.02 trillion, a P/E ratio of 25.06, a P/E/G ratio of 1.21 and a beta of 1.04. The stock’s fifty day simple moving average is $161.77 and its 200-day simple moving average is $168.06.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same period last year, the company earned $1.44 EPS. Equities research analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

About Alphabet

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.