E&G Advisors LP Purchases 355 Shares of Alphabet Inc. (NASDAQ:GOOG)

E&G Advisors LP increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 7,959 shares of the information services provider’s stock after purchasing an additional 355 shares during the period. E&G Advisors LP’s holdings in Alphabet were worth $1,331,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of GOOG. Radnor Capital Management LLC lifted its position in Alphabet by 48.6% during the first quarter. Radnor Capital Management LLC now owns 12,600 shares of the information services provider’s stock worth $1,918,000 after acquiring an additional 4,120 shares during the last quarter. RDA Financial Network increased its stake in shares of Alphabet by 35.9% during the first quarter. RDA Financial Network now owns 6,298 shares of the information services provider’s stock worth $959,000 after purchasing an additional 1,665 shares during the period. Birch Capital Management LLC lifted its holdings in Alphabet by 0.9% during the 1st quarter. Birch Capital Management LLC now owns 30,519 shares of the information services provider’s stock worth $4,647,000 after purchasing an additional 258 shares during the last quarter. Compton Wealth Advisory Group LLC boosted its stake in Alphabet by 17.7% in the 1st quarter. Compton Wealth Advisory Group LLC now owns 8,920 shares of the information services provider’s stock valued at $1,358,000 after purchasing an additional 1,340 shares during the period. Finally, Benson Investment Management Company Inc. grew its holdings in Alphabet by 16.9% in the 1st quarter. Benson Investment Management Company Inc. now owns 59,455 shares of the information services provider’s stock valued at $9,053,000 after buying an additional 8,594 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GOOG. UBS Group reduced their target price on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Scotiabank began coverage on shares of Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price on the stock. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $186.90.

Alphabet Stock Up 0.3 %

NASDAQ GOOG opened at $165.05 on Monday. The business has a fifty day moving average price of $163.18 and a two-hundred day moving average price of $169.77. The stock has a market capitalization of $2.04 trillion, a PE ratio of 25.31, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the prior year, the company earned $1.44 EPS. Alphabet’s revenue for the quarter was up 13.6% on a year-over-year basis. Equities analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, 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 approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,426 shares of company stock worth $35,993,340. Corporate insiders own 12.99% of the company’s stock.

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.