ORBA Wealth Advisors L.L.C. Has $1.45 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

ORBA Wealth Advisors L.L.C. raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,769 shares of the information services provider’s stock after buying an additional 100 shares during the period. ORBA Wealth Advisors L.L.C.’s holdings in Alphabet were worth $1,454,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Jessup Wealth Management Inc grew its stake in shares of Alphabet by 112.3% during the third quarter. Jessup Wealth Management Inc now owns 63,013 shares of the information services provider’s stock valued at $10,451,000 after purchasing an additional 33,327 shares during the last quarter. Virginia Wealth Management Group Inc. bought a new stake in shares of Alphabet during the third quarter valued at approximately $299,000. Independence Bank of Kentucky grew its stake in shares of Alphabet by 30.0% during the third quarter. Independence Bank of Kentucky now owns 78,583 shares of the information services provider’s stock valued at $13,033,000 after purchasing an additional 18,157 shares during the last quarter. Rappaport Reiches Capital Management LLC grew its stake in shares of Alphabet by 9.3% during the third quarter. Rappaport Reiches Capital Management LLC now owns 7,484 shares of the information services provider’s stock valued at $1,241,000 after purchasing an additional 634 shares during the last quarter. Finally, San Luis Wealth Advisors LLC grew its stake in shares of Alphabet by 0.9% during the third quarter. San Luis Wealth Advisors LLC now owns 49,941 shares of the information services provider’s stock valued at $8,283,000 after purchasing an additional 447 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Guggenheim raised their price objective on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Loop Capital reaffirmed a “hold” rating and issued a $170.00 price objective on shares of Alphabet in a research note on Wednesday, July 3rd. Evercore ISI reduced their price objective on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Finally, Argus raised their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Stock Up 0.3 %

Shares of GOOGL stock opened at $163.42 on Friday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The firm’s fifty day moving average price is $161.77 and its two-hundred day moving average price is $168.16. The firm has a market capitalization of $2.02 trillion, a P/E ratio of 25.06, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same period in the previous year, the business earned $1.44 EPS. On average, equities analysts predict that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was 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 in the last ninety days. Insiders own 11.55% of the company’s stock.

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.