Elite Wealth Management Inc. Has $813,000 Holdings in Alphabet Inc (NASDAQ:GOOG)

Elite Wealth Management Inc. boosted its position in Alphabet Inc (NASDAQ:GOOG) by 11.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 667 shares of the information services provider’s stock after acquiring an additional 70 shares during the quarter. Alphabet makes up approximately 1.1% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 13th largest holding. Elite Wealth Management Inc.’s holdings in Alphabet were worth $813,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of GOOG. Lunia Capital LP grew its stake in Alphabet by 135,522.5% in the 4th quarter. Lunia Capital LP now owns 16,870,086 shares of the information services provider’s stock valued at $16,870,000 after buying an additional 16,857,647 shares during the last quarter. Nuveen Asset Management LLC grew its position in Alphabet by 6,515.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,039,672 shares of the information services provider’s stock worth $3,285,612,000 after purchasing an additional 2,993,722 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Alphabet by 6.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 11,480,467 shares of the information services provider’s stock worth $12,409,352,000 after purchasing an additional 674,924 shares during the last quarter. Investec Asset Management LTD grew its position in Alphabet by 2,660.9% in the 2nd quarter. Investec Asset Management LTD now owns 648,507 shares of the information services provider’s stock worth $19,478,000 after purchasing an additional 625,018 shares during the last quarter. Finally, BlackRock Inc. grew its position in Alphabet by 3.1% in the 2nd quarter. BlackRock Inc. now owns 20,205,186 shares of the information services provider’s stock worth $21,839,988,000 after purchasing an additional 612,804 shares during the last quarter. Institutional investors and hedge funds own 33.79% of the company’s stock.

In other news, VP Amie Thuener O’toole sold 55 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $1,200.74, for a total transaction of $66,040.70. Following the completion of the transaction, the vice president now directly owns 388 shares of the company’s stock, valued at approximately $465,887.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David C. Drummond sold 1,600 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $1,220.75, for a total transaction of $1,953,200.00. Following the transaction, the senior vice president now directly owns 45,806 shares of the company’s stock, valued at $55,917,674.50. The disclosure for this sale can be found here. Insiders have sold a total of 5,391 shares of company stock valued at $6,502,992 over the last ninety days. 12.99% of the stock is owned by insiders.



Several analysts have issued reports on the stock. Zacks Investment Research lowered shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Credit Suisse Group raised their price target on shares of Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 23rd. Wedbush raised their price target on shares of Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada restated a “buy” rating on shares of Alphabet in a research report on Monday, September 23rd. Four investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and an average target price of $1,378.93.

Shares of NASDAQ:GOOG traded up $12.80 during midday trading on Wednesday, reaching $1,201.93. 83,777 shares of the company’s stock were exchanged, compared to its average volume of 1,461,305. The company’s 50 day simple moving average is $1,204.58 and its two-hundred day simple moving average is $1,171.76. The firm has a market capitalization of $838.32 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 1.41 and a beta of 0.99. Alphabet Inc has a 12 month low of $970.11 and a 12 month high of $1,289.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, topping analysts’ consensus estimates of $11.49 by $2.72. The company had revenue of $38.94 billion during the quarter, compared to the consensus estimate of $38.21 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the firm earned $11.75 EPS. On average, research analysts anticipate that Alphabet Inc will post 51.66 earnings per share for the current year.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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