Alphabet Inc. $GOOG Holdings Boosted by AAF Wealth Management LLC

AAF Wealth Management LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,764 shares of the information services provider’s stock after acquiring an additional 388 shares during the period. Alphabet accounts for 1.1% of AAF Wealth Management LLC’s investment portfolio, making the stock its 12th biggest holding. AAF Wealth Management LLC’s holdings in Alphabet were worth $2,442,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of GOOG. IFS Advisors LLC boosted its holdings in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares in the last quarter. Robbins Farley raised its position in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares during the last quarter. WestEnd Advisors LLC raised its position in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after buying an additional 61 shares during the last quarter. Fairman Group LLC raised its position in shares of Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet during the first quarter valued at about $32,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.8%

Shares of NASDAQ:GOOG opened at $284.12 on Tuesday. The firm has a market cap of $3.44 trillion, a price-to-earnings ratio of 28.02, a PEG ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $291.93. The company’s fifty day simple moving average is $246.09 and its 200 day simple moving average is $202.22. 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 (NASDAQ:GOOG) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.12 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GOOG. Rosenblatt Securities set a $279.00 target price on shares of Alphabet in a research note on Thursday. BMO Capital Markets reissued an “outperform” rating and set a $340.00 price target on shares of Alphabet in a research note on Thursday. Raymond James Financial set a $275.00 price target on shares of Alphabet and gave the company an “outperform” rating in a research note on Friday, October 24th. HSBC restated a “buy” rating and issued a $335.00 price objective on shares of Alphabet in a report on Thursday. Finally, Barclays increased their target price on shares of Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Insider Activity

In other news, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares of the company’s stock, valued at $1,383,200. This trade represents a 12.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 222,442 shares of company stock worth $51,200,307. 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.