Net Worth Advisory Group Purchases New Position in Alphabet Inc. (NASDAQ:GOOGL)

Net Worth Advisory Group bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,669 shares of the information services provider’s stock, valued at approximately $774,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Kirr Marbach & Co. LLC IN boosted its stake in shares of Alphabet by 0.3% in the third quarter. Kirr Marbach & Co. LLC IN now owns 91,394 shares of the information services provider’s stock valued at $15,158,000 after buying an additional 312 shares in the last quarter. Stratos Investment Management LLC grew its holdings in Alphabet by 6.3% during the 3rd quarter. Stratos Investment Management LLC now owns 162,997 shares of the information services provider’s stock valued at $27,033,000 after buying an additional 9,696 shares during the last quarter. Stratos Wealth Advisors LLC lifted its holdings in Alphabet by 2.0% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 69,788 shares of the information services provider’s stock valued at $11,574,000 after purchasing an additional 1,361 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in Alphabet by 4.8% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 334,330 shares of the information services provider’s stock worth $55,449,000 after acquiring an additional 15,320 shares during the period. Finally, Inspire Advisors LLC lifted its position in Alphabet by 10.1% during the third quarter. Inspire Advisors LLC now owns 2,857 shares of the information services provider’s stock worth $474,000 after buying an additional 262 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $200.00 price target on shares of Alphabet in a report on Monday, September 30th. Truist Financial raised their price target on shares of Alphabet from $196.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Tigress Financial upped their target price on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a research note on Monday, October 7th. Finally, Wells Fargo & Company lowered their price objective on shares of Alphabet from $190.00 to $182.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Seven investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Stock Up 0.9 %

GOOGL opened at $166.72 on Tuesday. The firm has a market cap of $2.06 trillion, a price-to-earnings ratio of 25.57, a PEG ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a twelve month low of $122.68 and a twelve month high of $191.75. The firm’s 50-day simple moving average is $161.95 and its 200-day simple moving average is $168.65. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The sale 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 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is currently owned by corporate 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.