Alphabet Inc. $GOOG Stake Boosted by Saxony Capital Management LLC

Saxony Capital Management LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 35.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,500 shares of the information services provider’s stock after purchasing an additional 920 shares during the quarter. Saxony Capital Management LLC’s holdings in Alphabet were worth $621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of GOOG. IFS Advisors LLC increased its stake in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares in the last quarter. Robbins Farley grew its stake in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC grew its stake in Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares in the last quarter. Fairman Group LLC grew its stake in Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new position in Alphabet during the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares in the company, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 222,330 shares of company stock worth $51,167,625. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Down 0.0%

Shares of Alphabet stock opened at $281.82 on Monday. The firm has a market cap of $3.41 trillion, a price-to-earnings 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 current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $291.93. The stock has a 50-day simple moving average of $244.59 and a 200-day simple moving average of $201.30.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Bank of America lifted their target price on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday. Cowen reaffirmed a “buy” rating on shares of Alphabet in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “buy (b)” 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-seven have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $324.81.

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.