Bell & Brown Wealth Advisors LLC Invests $3.90 Million in Alphabet Inc (NASDAQ:GOOGL)
Bell & Brown Wealth Advisors LLC bought a new position in shares of Alphabet Inc (NASDAQ:GOOGL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,230 shares of the information services provider’s stock, valued at approximately $3,898,000. Alphabet accounts for approximately 3.2% of Bell & Brown Wealth Advisors LLC’s portfolio, making the stock its 3rd biggest holding.
Several other large investors also recently modified their holdings of the company. Litman Gregory Asset Management LLC bought a new position in shares of Alphabet during the second quarter valued at approximately $37,000. Belvedere Advisors LLC bought a new position in shares of Alphabet during the first quarter valued at approximately $38,000. Thor Advisors LLC bought a new position in shares of Alphabet during the first quarter valued at approximately $45,000. Lipe & Dalton bought a new position in shares of Alphabet during the second quarter valued at approximately $49,000. Finally, Johnson Financial Group Inc. boosted its stake in shares of Alphabet by 26.3% during the second quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock valued at $52,000 after purchasing an additional 10 shares in the last quarter. 33.50% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:GOOGL traded up $12.27 on Wednesday, hitting $1,202.40. 537,754 shares of the company were exchanged, compared to its average volume of 1,570,821. Alphabet Inc has a 1-year low of $977.66 and a 1-year high of $1,296.97. The stock’s 50 day moving average price is $1,205.66 and its 200 day moving average price is $1,174.22. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $832.27 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99.
GOOGL has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Alphabet from a “sell” rating to a “hold” rating and set a $1,189.00 price objective on the stock in a research note on Monday, July 8th. Credit Suisse Group increased their price objective on shares of Alphabet from $1,400.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Oppenheimer set a $1,370.00 price objective on shares of Alphabet and gave the company a “buy” rating in a research note on Friday, July 26th. Raymond James set a $1,360.00 price objective on shares of Alphabet and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Nomura restated a “buy” rating and issued a $1,400.00 target price (up from $1,300.00) on shares of Alphabet in a research note on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $1,375.78.
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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