TSA Wealth Managment LLC Takes Position in Alphabet Inc. $GOOG

TSA Wealth Managment LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,188 shares of the information services provider’s stock, valued at approximately $211,000.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after buying an additional 9,687,855 shares during the period. Kingstone Capital Partners Texas LLC boosted its position in Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after buying an additional 135,064,454 shares during the period. JPMorgan Chase & Co. boosted its position in Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after buying an additional 9,243,959 shares during the period. Deutsche Bank AG boosted its position in Alphabet by 5.4% during the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock worth $3,334,852,000 after buying an additional 1,098,996 shares during the period. Finally, Invesco Ltd. boosted its position in Alphabet by 2.2% during the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock worth $3,183,979,000 after buying an additional 440,526 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GOOG shares. Cowen reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, October 8th. Jefferies Financial Group raised their price target on shares of Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Barclays restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. TD Cowen raised their price target on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, KeyCorp set a $265.00 price target on shares of Alphabet in a report on Wednesday, September 3rd. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $280.45.

Alphabet Stock Performance

NASDAQ:GOOG opened at $269.93 on Tuesday. The company has a fifty day moving average of $238.65 and a 200-day moving average of $197.67. The firm has a market capitalization of $3.26 trillion, a P/E ratio of 28.75, a P/E/G ratio of 1.76 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $270.80.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 103 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director owned 17,284 shares in the company, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the sale, the director owned 5,116 shares of the company’s stock, valued at $1,242,778.72. This trade represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock worth $55,805,379 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

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.