Briaud Financial Planning Inc Makes New $39,000 Investment in Alphabet Inc. $GOOG

Briaud Financial Planning Inc bought a new position in Alphabet Inc. (NASDAQ:GOOG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 222 shares of the information services provider’s stock, valued at approximately $39,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. RDA Financial Network grew its position in Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after purchasing an additional 554 shares during the last quarter. Oldfather Financial Services LLC acquired a new stake in shares of Alphabet in the 2nd quarter worth approximately $213,000. Tower View Wealth Management LLC lifted its stake in shares of Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after acquiring an additional 1,776 shares during the period. Dock Street Asset Management Inc. lifted its stake in shares of Alphabet by 0.8% in the 2nd quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock worth $41,563,000 after acquiring an additional 1,970 shares during the period. Finally, Truist Financial Corp lifted its stake in shares of Alphabet by 0.4% in the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock worth $643,381,000 after acquiring an additional 15,065 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 246,150 shares of company stock worth $55,805,379. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GOOG shares. Barclays reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Scotiabank reaffirmed an “outperform” rating and issued a $310.00 price target on shares of Alphabet in a research note on Thursday, October 16th. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Finally, Raymond James Financial set a $275.00 target price on shares of Alphabet and gave the company an “outperform” rating in a research note on Friday. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $249.68.

Alphabet Stock Up 2.7%

Shares of NASDAQ:GOOG opened at $260.51 on Friday. 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 company has a market cap of $3.15 trillion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 1.76 and a beta of 1.00. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $262.51. The firm has a 50 day simple moving average of $237.33 and a 200 day simple moving average of $196.66.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.89 EPS. As a group, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

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.