Gradient Investments LLC Purchases 490 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Gradient Investments LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,388 shares of the information services provider’s stock after buying an additional 490 shares during the period. Gradient Investments LLC’s holdings in Alphabet were worth $884,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Spreng Capital Management Inc. boosted its position in shares of Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after acquiring an additional 5 shares during the last quarter. West Family Investments Inc. boosted its stake in Alphabet by 0.3% during the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after buying an additional 6 shares during the period. Maple Capital Management Inc. boosted its stake in Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after buying an additional 6 shares during the period. Private Advisory Group LLC boosted its stake in Alphabet by 1.8% during the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after buying an additional 7 shares during the period. Finally, Weik Capital Management boosted its stake in Alphabet by 0.5% during the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after buying an additional 8 shares during the period. Hedge funds and other institutional investors own 35.08% of the company’s stock.

Alphabet Stock Up 0.6 %

Shares of NASDAQ:GOOGL opened at $138.21 on Tuesday. The company has a market capitalization of $1.74 trillion, a P/E ratio of 29.28, a P/E/G ratio of 1.59 and a beta of 1.06. The stock’s fifty day simple moving average is $129.60 and its 200-day simple moving average is $117.88. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $139.16. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.12. The company had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same quarter in the prior year, the business earned $1.21 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent analyst reports. Royal Bank of Canada lifted their price objective on shares of Alphabet from $145.00 to $155.00 in a research note on Wednesday, July 26th. Loop Capital boosted their target price on shares of Alphabet from $125.00 to $140.00 and gave the stock a “hold” rating in a report on Friday, August 18th. UBS Group downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and upped their price objective for the company from $123.00 to $132.00 in a report on Monday, June 26th. 51job reiterated a “downgrade” rating on shares of Alphabet in a research report on Tuesday, June 27th. Finally, Piper Sandler increased their target price on Alphabet from $140.00 to $148.00 in a research report on Wednesday, July 26th. Four research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $143.89.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 3,749 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total value of $510,913.72. Following the sale, the chief accounting officer now directly owns 25,568 shares in the company, valued at approximately $3,484,407.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider John Kent Walker sold 42,900 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $136.51, for a total transaction of $5,856,279.00. Following the completion of the sale, the insider now directly owns 10,383 shares in the company, valued at $1,417,383.33. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 3,749 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the transaction, the chief accounting officer now owns 25,568 shares in the company, valued at $3,484,407.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 96,092 shares of company stock worth $12,221,941. 0.88% of the stock is currently owned by company 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.