Chokshi & Queen Wealth Advisors Inc Buys 4,601 Shares of Alphabet Inc. $GOOG

Chokshi & Queen Wealth Advisors Inc lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 95.1% during the second quarter, HoldingsChannel.com reports. The firm owned 9,440 shares of the information services provider’s stock after purchasing an additional 4,601 shares during the quarter. Alphabet makes up 1.0% of Chokshi & Queen Wealth Advisors Inc’s portfolio, making the stock its 17th largest position. Chokshi & Queen Wealth Advisors Inc’s holdings in Alphabet were worth $1,675,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFS Advisors LLC raised its stake in shares of Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the period. Robbins Farley grew its position in Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares in the last quarter. WestEnd Advisors LLC grew its position in Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after buying an additional 61 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in Alphabet during the first quarter worth about $26,000. Finally, Fairman Group LLC grew its position in Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after buying an additional 97 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on GOOG. Mizuho upgraded Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Roth Capital restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Cowen restated a “buy” rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $249.68.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock valued at $55,805,379 in the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 2.7%

Shares of GOOG stock opened at $260.51 on Friday. The stock has a market capitalization of $3.15 trillion, a PE ratio of 27.74, a P/E/G ratio of 1.71 and a beta of 1.00. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $262.51. The business has a 50-day moving average of $237.33 and a 200 day moving average of $196.32. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.89 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Company Profile

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.