BCS Wealth Management Buys 1,868 Shares of Alphabet Inc. (NASDAQ:GOOGL)

BCS Wealth Management boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 62.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,837 shares of the information services provider’s stock after acquiring an additional 1,868 shares during the period. BCS Wealth Management’s holdings in Alphabet were worth $802,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Christopher J. Hasenberg Inc boosted its holdings in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new position in shares of Alphabet during the 2nd quarter worth approximately $36,000. Tributary Capital Management LLC acquired a new position in shares of Alphabet during the first quarter worth approximately $30,000. Denver PWM LLC acquired a new position in shares of Alphabet during the second quarter worth approximately $41,000. Finally, Quarry LP acquired a new position in shares of Alphabet during the second quarter worth approximately $53,000. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the sale, the director now owns 28,524 shares of the company’s stock, valued at $4,385,565. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock worth $35,993,340 in the last quarter. 11.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GOOGL. Wells Fargo & Company lowered their target price on Alphabet from $190.00 to $182.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Citigroup upped their target price on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Pivotal Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. upped their target price on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada upped their target price on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $201.76.

Alphabet Stock Up 1.6 %

Shares of NASDAQ GOOGL opened at $165.27 on Monday. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The business has a 50-day simple moving average of $161.95 and a two-hundred day simple moving average of $168.60. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.03 trillion, a P/E ratio of 23.71, a P/E/G ratio of 1.27 and a beta of 1.04.

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.