Newport Wealth Strategies Inc. Has $1.61 Million Stock Holdings in Alphabet Inc (NASDAQ:GOOGL)

Newport Wealth Strategies Inc. trimmed its position in Alphabet Inc (NASDAQ:GOOGL) by 5.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,318 shares of the information services provider’s stock after selling 74 shares during the period. Alphabet makes up approximately 1.5% of Newport Wealth Strategies Inc.’s holdings, making the stock its 22nd biggest holding. Newport Wealth Strategies Inc.’s holdings in Alphabet were worth $1,609,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Ackerman Capital Advisors LLC increased its stake in Alphabet by 4.0% during the 3rd quarter. Ackerman Capital Advisors LLC now owns 520 shares of the information services provider’s stock worth $635,000 after purchasing an additional 20 shares in the last quarter. Nachman Norwood & Parrott Inc increased its stake in Alphabet by 5.7% during the 3rd quarter. Nachman Norwood & Parrott Inc now owns 557 shares of the information services provider’s stock worth $680,000 after purchasing an additional 30 shares in the last quarter. Bell & Brown Wealth Advisors LLC bought a new stake in Alphabet during the 3rd quarter worth approximately $3,898,000. Polaris Greystone Financial Group LLC increased its stake in Alphabet by 24.1% during the 3rd quarter. Polaris Greystone Financial Group LLC now owns 1,013 shares of the information services provider’s stock worth $1,193,000 after purchasing an additional 197 shares in the last quarter. Finally, TrimTabs Asset Management LLC bought a new stake in Alphabet during the 3rd quarter worth approximately $1,243,000. Institutional investors and hedge funds own 33.50% of the company’s stock.

GOOGL has been the subject of a number of research reports. JMP Securities increased their target price on Alphabet to $1,450.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. BidaskClub raised Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, July 13th. Nomura reissued a “buy” rating and set a $1,400.00 target price (up from $1,300.00) on shares of Alphabet in a research note on Friday, July 26th. BMO Capital Markets increased their target price on Alphabet to $1,225.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Finally, Wedbush increased their target price on Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $1,375.78.



Alphabet stock traded up $12.27 during mid-day trading on Wednesday, hitting $1,202.40. 547,917 shares of the company’s stock traded hands, compared to its average volume of 1,570,821. The firm has a 50 day simple moving average of $1,205.66 and a two-hundred day simple moving average of $1,174.22. Alphabet Inc has a fifty-two week low of $977.66 and a fifty-two week high of $1,296.97. The stock has a market cap of $832.27 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 1.42 and a beta of 0.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The business had revenue of $31.71 billion during the quarter, compared to the consensus estimate of $30.90 billion. On average, research analysts anticipate that Alphabet Inc will post 51.29 earnings per share for the current fiscal year.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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