Impact Partnership Wealth LLC Boosts Stock Holdings in Alphabet Inc. $GOOG

Impact Partnership Wealth LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 19.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,391 shares of the information services provider’s stock after buying an additional 389 shares during the period. Impact Partnership Wealth LLC’s holdings in Alphabet were worth $424,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GOOG. IFS Advisors LLC boosted its position in Alphabet by 400.0% during the second 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 boosted its holdings in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares during the period. WestEnd Advisors LLC boosted its holdings in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares during the period. Fairman Group LLC boosted its holdings in shares of Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alphabet during the first quarter worth about $32,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the transaction, the director directly owned 17,284 shares of the company’s stock, valued at $4,202,258.92. This represents a 0.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 246,150 shares of company stock valued at $55,805,379 over the last ninety days. 12.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GOOG shares. Rosenblatt Securities set a $279.00 target price on shares of Alphabet in a report on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. BMO Capital Markets reiterated an “outperform” rating and set a $340.00 target price on shares of Alphabet in a report on Thursday. Morgan Stanley increased their target price on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Finally, Cowen reiterated a “buy” rating on shares of Alphabet in a report on Thursday. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Stock Performance

Shares of GOOG opened at $281.82 on Friday. 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 one year low of $142.66 and a one year high of $291.93. The company has a 50-day simple moving average of $244.59 and a two-hundred day simple moving average of $200.98. The firm has a market capitalization of $3.41 trillion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping 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 business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. During the same period last year, the business posted $2.12 earnings per share. Alphabet’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

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.