Optimum Investment Advisors Purchases 100 Shares of Alphabet Inc. $GOOG

Optimum Investment Advisors lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,373 shares of the information services provider’s stock after purchasing an additional 100 shares during the period. Alphabet comprises 1.8% of Optimum Investment Advisors’ portfolio, making the stock its 8th largest position. Optimum Investment Advisors’ holdings in Alphabet were worth $4,146,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. ACT Advisors LLC. increased its stake in shares of Alphabet by 3.5% in the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after buying an additional 55 shares during the last quarter. Moser Wealth Advisors LLC increased its stake in shares of Alphabet by 2.2% in the second quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock worth $451,000 after buying an additional 55 shares during the last quarter. LongView Wealth Management increased its stake in shares of Alphabet by 1.1% in the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after buying an additional 56 shares during the last quarter. Kooman & Associates increased its stake in shares of Alphabet by 1.4% in the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after buying an additional 56 shares during the last quarter. Finally, Greenup Street Wealth Management LLC increased its stake in shares of Alphabet by 0.5% in the second quarter. Greenup Street Wealth Management LLC now owns 11,656 shares of the information services provider’s stock worth $2,068,000 after buying an additional 56 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. TD Cowen boosted their target price on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. UBS Group set a $255.00 target price on shares of Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 9th. Pivotal Research boosted their target price on shares of Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Finally, Cowen reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $280.45.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, 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 is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 246,150 shares of company stock worth $55,805,379. Insiders own 12.99% of the company’s stock.

Alphabet Stock Down 0.6%

Alphabet stock opened at $268.43 on Wednesday. The company has a 50-day simple moving average of $239.97 and a 200-day simple moving average of $198.46. The firm has a market capitalization of $3.25 trillion, a P/E ratio of 28.59, a P/E/G ratio of 1.82 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a one year low of $142.66 and a one year high of $271.38.

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