Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Summit Financial Strategies Inc.

Summit Financial Strategies Inc. boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 18.2% during the third quarter, HoldingsChannel reports. The fund owned 8,335 shares of the information services provider’s stock after buying an additional 1,282 shares during the period. Summit Financial Strategies Inc.’s holdings in Alphabet were worth $1,382,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. DGS Capital Management LLC raised its stake in shares of Alphabet by 32.6% in the 1st quarter. DGS Capital Management LLC now owns 14,379 shares of the information services provider’s stock valued at $2,170,000 after acquiring an additional 3,532 shares during the period. Clarity Financial LLC increased its holdings in Alphabet by 4.8% in the 1st quarter. Clarity Financial LLC now owns 4,956 shares of the information services provider’s stock valued at $748,000 after purchasing an additional 227 shares during the last quarter. Ellis Investment Partners LLC increased its holdings in Alphabet by 8.6% in the 1st quarter. Ellis Investment Partners LLC now owns 28,548 shares of the information services provider’s stock valued at $4,309,000 after purchasing an additional 2,258 shares during the last quarter. Affiance Financial LLC raised its position in Alphabet by 4.5% in the first quarter. Affiance Financial LLC now owns 9,350 shares of the information services provider’s stock valued at $1,411,000 after purchasing an additional 400 shares during the period. Finally, S.A. Mason LLC lifted its stake in Alphabet by 1.5% during the first quarter. S.A. Mason LLC now owns 10,587 shares of the information services provider’s stock worth $1,598,000 after purchasing an additional 155 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ GOOGL opened at $165.27 on Friday. The firm 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 Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The business’s 50-day moving average price is $161.95 and its 200 day moving average price is $168.51. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GOOGL shares. Evercore ISI cut their price objective on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Jefferies Financial Group boosted their price target on shares of Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. JMP Securities reissued a “market outperform” rating and issued a $200.00 price objective on shares of Alphabet in a research note on Wednesday, September 25th. Tigress Financial upped their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada raised their price target on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.76.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the business’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 transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider John Kent Walker sold 21,467 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the sale, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet 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 completion of the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,426 shares of company stock valued at $35,993,340. 11.55% of the stock is owned by company insiders.

Alphabet 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.