Elk River Wealth Management LLC Has $16.37 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Elk River Wealth Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the third quarter, HoldingsChannel reports. The fund owned 98,689 shares of the information services provider’s stock after purchasing an additional 614 shares during the quarter. Alphabet makes up about 3.0% of Elk River Wealth Management LLC’s portfolio, making the stock its 10th largest holding. Elk River Wealth Management LLC’s holdings in Alphabet were worth $16,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. New Hampshire Trust grew its position in shares of Alphabet by 2.7% during 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 during the period. Berkshire Money Management Inc. bought a new position in Alphabet in the 1st quarter worth $359,000. Schneider Downs Wealth Management Advisors LP boosted 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 worth $962,000 after buying an additional 2,351 shares during the period. Trinity Financial Advisors LLC boosted 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 worth $771,000 after buying an additional 190 shares during the period. Finally, StoneCrest Wealth Management Inc. boosted its holdings in Alphabet by 0.7% in the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after buying an additional 140 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $165.14 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The firm has a market capitalization of $2.04 trillion, a P/E ratio of 25.33, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company’s 50-day moving average is $161.82 and its 200 day moving average is $168.44.

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

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,426 shares of company stock valued at $35,993,340. 11.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GOOGL has been the subject of several recent analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Thursday, September 5th. Wolfe Research initiated coverage on shares of Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 target price for the company. Royal Bank of Canada upped their target price on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Morgan Stanley dropped their target price on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Finally, UBS Group increased their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Company 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.