Perfromance Wealth Partners LLC Buys 639 Shares of Alphabet Inc. $GOOGL

Perfromance Wealth Partners LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.6% in the second quarter, HoldingsChannel reports. The firm owned 41,824 shares of the information services provider’s stock after purchasing an additional 639 shares during the quarter. Alphabet accounts for about 0.2% of Perfromance Wealth Partners LLC’s holdings, making the stock its 26th largest holding. Perfromance Wealth Partners LLC’s holdings in Alphabet were worth $7,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. boosted its position in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the period. von Borstel & Associates Inc. bought a new stake in shares of Alphabet in the first quarter valued at about $28,000. IMA Advisory Services Inc. bought a new stake in shares of Alphabet in the first quarter valued at about $28,000. NBZ Investment Advisors LLC boosted its position in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Alphabet in the first quarter valued at about $39,000. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The shares were 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 owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at $598,149,304. This trade represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 246,150 shares of company stock valued at $55,805,379. 11.64% of the stock is currently owned by insiders.

Alphabet Stock Up 2.7%

GOOGL stock opened at $259.92 on Friday. The stock has a market capitalization of $3.14 trillion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $261.68. The firm has a 50-day moving average price of $236.72 and a 200-day moving average price of $195.25.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GOOGL. Oppenheimer boosted their target price on shares of Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. BNP Paribas Exane upped their price objective on shares of Alphabet from $187.00 to $247.00 and gave the stock a “neutral” rating in a research report on Tuesday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $288.00 price objective on shares of Alphabet in a research report on Tuesday, October 14th. Finally, Robert W. Baird upped their price objective on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $263.20.

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.