HBK Sorce Advisory LLC Raises Stock Holdings in Alphabet Inc. $GOOG

HBK Sorce Advisory LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 54,752 shares of the information services provider’s stock after acquiring an additional 314 shares during the period. HBK Sorce Advisory LLC’s holdings in Alphabet were worth $9,713,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. IFS Advisors LLC raised its holdings in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares during the period. Robbins Farley raised its holdings in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares during the period. WestEnd Advisors LLC raised its holdings in Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after buying an additional 61 shares during the period. Fairman Group LLC raised its holdings in Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in Alphabet during the first quarter worth about $32,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of Alphabet stock opened at $281.82 on Friday. Alphabet Inc. has a one year low of $142.66 and a one year high of $291.93. The company has a market cap of $3.41 trillion, a PE ratio of 27.79, a P/E/G ratio of 1.86 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. The business has a 50-day simple moving average of $244.59 and a 200-day simple moving average of $200.68.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same period in the previous year, the company posted $2.12 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GOOG shares. Canaccord Genuity Group reiterated a “buy” rating and set a $330.00 price target on shares of Alphabet in a research note on Thursday. Cantor Fitzgerald set a $310.00 price target on shares of Alphabet and gave the stock a “neutral” rating in a research note on Thursday. Pivotal Research boosted their price target on shares of Alphabet from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday. Jefferies Financial Group boosted their price target on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Sanford C. Bernstein boosted their price target on shares of Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the company’s 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 246,150 shares of company stock valued at $55,805,379. 12.99% of the stock is currently owned by corporate insiders.

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.