Riverwater Partners LLC Purchases 581 Shares of Alphabet Inc. $GOOG

Riverwater Partners LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 14.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,476 shares of the information services provider’s stock after buying an additional 581 shares during the period. Riverwater Partners LLC’s holdings in Alphabet were worth $794,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after buying an additional 6,410 shares in the last quarter. Revisor Wealth Management LLC grew its position in Alphabet by 107.9% in the first quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock worth $572,000 after acquiring an additional 1,899 shares in the last quarter. Golden State Wealth Management LLC increased its stake in Alphabet by 6.2% in the first quarter. Golden State Wealth Management LLC now owns 10,160 shares of the information services provider’s stock valued at $1,587,000 after acquiring an additional 594 shares during the last quarter. Waterfront Wealth Inc. raised its position in Alphabet by 1.9% during the first quarter. Waterfront Wealth Inc. now owns 4,695 shares of the information services provider’s stock valued at $734,000 after purchasing an additional 89 shares in the last quarter. Finally, Crown Wealth Group LLC raised its position in Alphabet by 1.5% during the first quarter. Crown Wealth Group LLC now owns 5,595 shares of the information services provider’s stock valued at $874,000 after purchasing an additional 82 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 246,150 shares of company stock valued at $55,805,379. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GOOG shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. TD Cowen increased their price target on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Barclays restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Finally, Raymond James Financial set a $275.00 target price on shares of Alphabet and gave the stock an “outperform” rating in a research report on Friday. Five research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $280.45.

Alphabet Trading Down 0.6%

Shares of GOOG opened at $268.43 on Wednesday. The stock has a market capitalization of $3.25 trillion, a P/E ratio of 28.59, a PEG ratio of 1.82 and a beta of 1.00. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $271.38. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $239.97 and a two-hundred day simple moving average of $198.46.

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.