FormulaFolio Investments LLC Increases Stock Holdings in Alphabet Inc (NASDAQ:GOOG)

FormulaFolio Investments LLC boosted its position in Alphabet Inc (NASDAQ:GOOG) by 7.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 430 shares of the information services provider’s stock after purchasing an additional 29 shares during the period. FormulaFolio Investments LLC’s holdings in Alphabet were worth $632,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Virtus ETF Advisers LLC purchased a new position in shares of Alphabet during the 2nd quarter valued at about $38,000. Campbell Wealth Management purchased a new position in shares of Alphabet during the 2nd quarter valued at about $41,000. Islay Capital Management LLC lifted its position in shares of Alphabet by 40.0% during the 2nd quarter. Islay Capital Management LLC now owns 35 shares of the information services provider’s stock valued at $49,000 after buying an additional 10 shares in the last quarter. Prestige Wealth Management Group LLC lifted its position in shares of Alphabet by 1,700.0% during the 1st quarter. Prestige Wealth Management Group LLC now owns 36 shares of the information services provider’s stock valued at $42,000 after buying an additional 34 shares in the last quarter. Finally, Cedar Mountain Advisors LLC lifted its position in shares of Alphabet by 34.4% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 43 shares of the information services provider’s stock valued at $61,000 after buying an additional 11 shares in the last quarter. 32.42% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently weighed in on the company. UBS Group reaffirmed a “buy” rating and set a $1,970.00 price objective (up from $1,600.00) on shares of Alphabet in a research report on Tuesday, August 25th. BidaskClub cut Alphabet from a “buy” rating to a “hold” rating in a report on Wednesday, September 9th. Robert W. Baird boosted their price target on Alphabet from $1,650.00 to $1,675.00 in a report on Friday, July 31st. JPMorgan Chase & Co. boosted their price target on Alphabet from $1,505.00 to $1,700.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Monday, October 12th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $1,703.33.

In related news, Director Ann Mather sold 22 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $1,484.27, for a total transaction of $32,653.94. Following the sale, the director now directly owns 1,134 shares of the company’s stock, valued at $1,683,162.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 60 shares of the firm’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $1,473.43, for a total value of $88,405.80. Following the sale, the director now directly owns 548 shares in the company, valued at $807,439.64. The disclosure for this sale can be found here. Insiders sold 142 shares of company stock worth $213,357 over the last three months. Corporate insiders own 12.99% of the company’s stock.

Shares of GOOG stock opened at $1,573.01 on Friday. The stock’s 50-day simple moving average is $1,525.61 and its 200-day simple moving average is $1,436.75. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.40 and a current ratio of 3.41. The firm has a market capitalization of $1,069.90 billion, a PE ratio of 34.59, a P/E/G ratio of 2.16 and a beta of 1.10. Alphabet Inc has a fifty-two week low of $1,013.54 and a fifty-two week high of $1,733.18.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, beating analysts’ consensus estimates of $8.43 by $1.70. The business had revenue of $31.60 billion for the quarter, compared to analyst estimates of $30.58 billion. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. Sell-side analysts forecast that Alphabet Inc will post 44.84 earnings per share for the current year.

Alphabet 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.

See Also: How does the Beige Book influence monetary policy?

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.