Intellectus Partners LLC Has $13.09 Million Stock Holdings in Alphabet Inc. $GOOG

Intellectus Partners LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 73,777 shares of the information services provider’s stock after acquiring an additional 1,441 shares during the period. Alphabet makes up about 2.8% of Intellectus Partners LLC’s holdings, making the stock its 4th biggest position. Intellectus Partners LLC’s holdings in Alphabet were worth $13,087,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Snider Financial Group increased its holdings in Alphabet by 7.1% during the 2nd quarter. Snider Financial Group now owns 43,529 shares of the information services provider’s stock worth $7,722,000 after acquiring an additional 2,884 shares during the period. Benchmark Financial Wealth Advisors LLC increased its holdings in Alphabet by 6.4% during the 2nd quarter. Benchmark Financial Wealth Advisors LLC now owns 3,193 shares of the information services provider’s stock worth $566,000 after acquiring an additional 192 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co increased its holdings in Alphabet by 0.3% during the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 142,486 shares of the information services provider’s stock worth $25,276,000 after acquiring an additional 477 shares during the period. AAF Wealth Management LLC increased its holdings in Alphabet by 2.9% during the 2nd quarter. AAF Wealth Management LLC now owns 13,764 shares of the information services provider’s stock worth $2,442,000 after acquiring an additional 388 shares during the period. Finally, State of Michigan Retirement System increased its holdings in Alphabet by 3.9% during the 2nd quarter. State of Michigan Retirement System now owns 1,608,660 shares of the information services provider’s stock worth $285,360,000 after acquiring an additional 60,500 shares during the period. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GOOG shares. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Wolfe Research raised their price objective on shares of Alphabet from $290.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Mizuho set a $325.00 price objective on shares of Alphabet in a report on Thursday. KeyCorp reiterated an “overweight” rating and issued a $330.00 target price on shares of Alphabet in a research report on Thursday. Finally, TD Cowen upped their target price on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $324.81.

Alphabet Price Performance

GOOG stock opened at $284.12 on Tuesday. 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 52 week low of $142.66 and a 52 week high of $291.93. The firm’s fifty day moving average is $246.09 and its 200 day moving average is $202.22. The firm has a market cap of $3.44 trillion, a P/E ratio of 28.02, a P/E/G ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same quarter last year, the firm earned $2.12 EPS. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. Research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the sale, the director owned 6,916 shares of the company’s stock, valued at $1,383,200. This represents a 12.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 222,442 shares of company stock worth $51,200,307 in the last quarter. 12.99% of the stock is currently owned by company insiders.

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.