Aptus Capital Advisors LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

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Aptus Capital Advisors LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 78.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,969 shares of the information services provider’s stock after purchasing an additional 1,301 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Alphabet were worth $8,258,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Morling Financial Advisors LLC purchased a new position in Alphabet during the fourth quarter valued at approximately $29,000. West Bancorporation Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $29,000. Wealthgate Family Office LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $32,000. NS Partners Ltd purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $41,000. Finally, AHL Investment Management Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $46,000. 41.70% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Down 0.6 %

Shares of GOOGL stock opened at $117.47 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. The stock has a market capitalization of $1.55 trillion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 1.91 and a beta of 1.08. The company has a 50 day moving average price of $155.27 and a 200 day moving average price of $137.96. Alphabet Inc. has a fifty-two week low of $101.88 and a fifty-two week high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.11). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same quarter in the previous year, the company posted $27.26 earnings per share. Equities research analysts predict that Alphabet Inc. will post 5.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GOOGL shares. Oppenheimer cut their price objective on Alphabet to $155.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. Truist Financial lowered their price target on Alphabet from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, July 27th. Wolfe Research lowered their price target on Alphabet from $175.00 to $145.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 27th. BMO Capital Markets lowered their price target on Alphabet from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 27th. Finally, Citigroup lowered their price target on Alphabet from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 27th. Five investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.36.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 31 shares of Alphabet stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $2,280.98, for a total value of $70,710.38. Following the completion of the transaction, the director now owns 265 shares in the company, valued at $604,459.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director John L. Hennessy sold 31 shares of Alphabet stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $2,280.98, for a total value of $70,710.38. Following the completion of the transaction, the director now owns 265 shares in the company, valued at $604,459.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 34,799 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $118.25, for a total transaction of $4,114,981.75. Following the sale, the insider now owns 18,484 shares of the company’s stock, valued at approximately $2,185,733. The disclosure for this sale can be found here. Insiders sold 42,383 shares of company stock worth $15,761,666 over the last 90 days. 11.44% of the stock is owned by insiders.

Alphabet Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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