Signet Investment Advisory Group Inc. Grows Position in Alphabet Inc. $GOOG

Signet Investment Advisory Group Inc. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,595 shares of the information services provider’s stock after acquiring an additional 1,138 shares during the period. Alphabet comprises approximately 1.8% of Signet Investment Advisory Group Inc.’s holdings, making the stock its 22nd biggest position. Signet Investment Advisory Group Inc.’s holdings in Alphabet were worth $3,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Brighton Jones LLC raised its holdings in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares during the period. Revisor Wealth Management LLC raised its position in shares of Alphabet by 107.9% during the 1st quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock worth $572,000 after purchasing an additional 1,899 shares during the period. Golden State Wealth Management LLC raised its position in shares of Alphabet by 6.2% during the 1st quarter. Golden State Wealth Management LLC now owns 10,160 shares of the information services provider’s stock worth $1,587,000 after purchasing an additional 594 shares during the period. DSG Capital Advisors LLC lifted its holdings in shares of Alphabet by 4.9% in the 1st quarter. DSG Capital Advisors LLC now owns 8,550 shares of the information services provider’s stock worth $1,336,000 after purchasing an additional 400 shares during the last quarter. Finally, Libra Wealth LLC boosted its position in Alphabet by 54.3% during the 1st quarter. Libra Wealth LLC now owns 6,131 shares of the information services provider’s stock valued at $958,000 after purchasing an additional 2,157 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 246,150 shares of company stock worth $55,805,379 over the last three months. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on GOOG shares. Raymond James Financial set a $275.00 target price on Alphabet and gave the stock an “outperform” rating in a research report on Friday, October 24th. Lake Street Capital restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. DA Davidson set a $825.00 price objective on shares of Alphabet in a research report on Monday. Morgan Stanley boosted their target price on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $297.56.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $275.17 on Thursday. The stock has a market cap of $3.33 trillion, a P/E ratio of 29.30, a P/E/G ratio of 1.81 and a beta of 1.00. The firm’s 50-day simple moving average is $241.46 and its 200 day simple moving average is $199.27. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $275.97. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

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 31.12% and a return on equity of 34.31%. During the same quarter in the previous year, the business posted $2.12 EPS. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. Equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

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.