Regent Peak Wealth Advisors LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Regent Peak Wealth Advisors LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% in the third quarter, Holdings Channel reports. The institutional investor owned 23,326 shares of the information services provider’s stock after acquiring an additional 64 shares during the period. Alphabet makes up about 0.9% of Regent Peak Wealth Advisors LLC’s investment portfolio, making the stock its 23rd biggest holding. Regent Peak Wealth Advisors LLC’s holdings in Alphabet were worth $3,869,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc boosted its holdings in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Kings Path Partners LLC bought a new stake in shares of Alphabet in the second quarter valued at about $36,000. Tributary Capital Management LLC purchased a new stake in Alphabet in the first quarter worth about $30,000. Denver PWM LLC bought a new position in Alphabet during the 2nd quarter worth about $41,000. Finally, Quarry LP purchased a new position in Alphabet during the 2nd quarter valued at about $53,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $165.27 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 company’s fifty day moving average price is $161.90 and its 200 day moving average price is $168.36. The stock has a market capitalization of $2.04 trillion, a P/E ratio of 25.35, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) 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 net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the company earned $1.44 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of analyst reports. Citigroup upped 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. Piper Sandler reiterated an “overweight” rating and issued a $200.00 target price on shares of Alphabet in a research note on Monday, September 30th. TD Securities raised their price target on shares of Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. JMP Securities reiterated a “market outperform” rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, September 25th. Finally, Argus raised their target price on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Seven analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $201.76.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the sale, the chief executive officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock valued at $35,993,340 over the last quarter. 11.55% of the stock is currently owned by insiders.

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.