Resonant Capital Advisors LLC Grows Position in Alphabet Inc. $GOOG

Resonant Capital Advisors LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.2% in the second quarter, Holdings Channel reports. The firm owned 48,659 shares of the information services provider’s stock after buying an additional 1,519 shares during the period. Resonant Capital Advisors LLC’s holdings in Alphabet were worth $8,632,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GOOG. Brighton Jones LLC lifted its stake in Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Revisor Wealth Management LLC boosted its holdings in Alphabet by 107.9% during the 1st quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock valued at $572,000 after acquiring an additional 1,899 shares during the period. Golden State Wealth Management LLC increased its stake in Alphabet by 6.2% during the first quarter. Golden State Wealth Management LLC now owns 10,160 shares of the information services provider’s stock worth $1,587,000 after purchasing an additional 594 shares during the period. Waterfront Wealth Inc. increased its stake in Alphabet by 1.9% during the first quarter. Waterfront Wealth Inc. now owns 4,695 shares of the information services provider’s stock worth $734,000 after purchasing an additional 89 shares during the period. Finally, Crown Wealth Group LLC lifted its position in shares of Alphabet by 1.5% during the first quarter. Crown Wealth Group LLC now owns 5,595 shares of the information services provider’s stock worth $874,000 after purchasing an additional 82 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GOOG. TD Cowen lifted their price objective on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Robert W. Baird upped their price target on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Pivotal Research increased their price target on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. KeyCorp set a $265.00 price target on shares of Alphabet in a report on Wednesday, September 3rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $280.45.

Alphabet Price Performance

Shares of GOOG opened at $268.43 on Wednesday. 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 Inc. has a 1-year low of $142.66 and a 1-year high of $271.38. The stock has a market cap of $3.25 trillion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 1.82 and a beta of 1.00. The firm has a fifty day moving average price of $239.97 and a 200 day moving average price of $198.46.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The shares were 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 owned 17,293 shares in the company, valued at $4,236,785. This represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the sale, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 over the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet 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.