Horst & Graben Wealth Management LLC Has $365,000 Holdings in Alphabet Inc. (NASDAQ:GOOG)

Horst & Graben Wealth Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 16.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,182 shares of the information services provider’s stock after purchasing an additional 301 shares during the period. Horst & Graben Wealth Management LLC’s holdings in Alphabet were worth $365,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Integrity Wealth Solutions LLC lifted its holdings in Alphabet by 15.4% during the third quarter. Integrity Wealth Solutions LLC now owns 4,591 shares of the information services provider’s stock worth $768,000 after acquiring an additional 612 shares in the last quarter. Community Financial Services Group LLC lifted its holdings in Alphabet by 1.4% during the third quarter. Community Financial Services Group LLC now owns 78,118 shares of the information services provider’s stock worth $13,061,000 after acquiring an additional 1,089 shares in the last quarter. Plimoth Trust Co. LLC lifted its holdings in Alphabet by 1.9% during the third quarter. Plimoth Trust Co. LLC now owns 14,042 shares of the information services provider’s stock worth $2,348,000 after acquiring an additional 267 shares in the last quarter. Venture Visionary Partners LLC lifted its holdings in Alphabet by 3.1% during the third quarter. Venture Visionary Partners LLC now owns 74,713 shares of the information services provider’s stock worth $12,491,000 after acquiring an additional 2,242 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in Alphabet by 1.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 612,647 shares of the information services provider’s stock worth $102,428,000 after acquiring an additional 9,769 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on GOOG. Scotiabank started coverage on Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price on the stock. UBS Group cut their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, Pivotal Research started coverage on Alphabet in a report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price target on the stock. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.90.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % 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, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock worth $35,993,340 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $166.82 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock’s 50-day simple moving average is $163.23 and its 200 day simple moving average is $169.96. The company has a market cap of $2.06 trillion, a P/E ratio of 25.59, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.44 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.64 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.