Alphabet Inc. (NASDAQ:GOOGL) Stock Position Increased by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 16.5% during the third quarter, Holdings Channel reports. The institutional investor owned 10,119 shares of the information services provider’s stock after buying an additional 1,434 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Alphabet were worth $1,678,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. New Hampshire Trust raised its stake in shares of Alphabet by 2.7% in the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after buying an additional 1,132 shares in the last quarter. Berkshire Money Management Inc. acquired a new stake in shares of Alphabet during the first quarter worth $359,000. Schneider Downs Wealth Management Advisors LP raised its position in shares of Alphabet by 58.4% during the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after purchasing an additional 2,351 shares during the period. Trinity Financial Advisors LLC raised its position in shares of Alphabet by 4.5% during the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after purchasing an additional 190 shares during the period. Finally, StoneCrest Wealth Management Inc. raised its position in shares of Alphabet by 0.7% during the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after purchasing an additional 140 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $165.27 on Monday. The business has a 50 day moving average price of $161.95 and a 200 day moving average price of $168.60. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The company has a market cap of $2.03 trillion, a price-to-earnings ratio of 23.71, a PEG ratio of 1.27 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GOOGL. Wolfe Research began coverage on Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Wedbush reissued an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Thursday. Jefferies Financial Group upped their price target on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Finally, DA Davidson assumed coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target on the stock. Seven research 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 stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’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 completion of the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock worth $35,993,340 in the last 90 days. 11.55% of the stock is owned by company insiders.

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.