Pathway Financial Advisers LLC Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Pathway Financial Advisers LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 15,926.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 594,907 shares of the information services provider’s stock after purchasing an additional 591,195 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Alphabet were worth $99,463,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Abich Financial Wealth Management LLC boosted its position in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Alphabet during the second quarter valued at $37,000. HWG Holdings LP bought a new stake in shares of Alphabet during the 2nd quarter valued at $40,000. Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet in the 2nd quarter worth about $44,000. Finally, Hoese & Co LLP increased its stake in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after acquiring an additional 100 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Up 1.5 %

Alphabet stock opened at $166.99 on Monday. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The business’s fifty day moving average is $163.35 and its 200 day moving average is $170.12. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market capitalization of $2.06 trillion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04.

Wall Street Analyst Weigh In

GOOG has been the topic of several research reports. Oppenheimer dropped their price objective on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. Pivotal Research began coverage on Alphabet in a research report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price target on the stock. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Scotiabank initiated coverage on Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $186.90.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction 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 of the company’s stock, valued at $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,426 shares of company stock worth $35,993,340. Company insiders own 12.99% of the company’s stock.

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.