Phillips Financial Management LLC invests $245,000 in Alphabet Inc. (NASDAQ:GOOGL)


Phillips Financial Management LLC acquired a new position in Alphabet Inc. (NASDAQ: GOOGLGet a rating) during the first quarter, according to its most recent 13F filing with the SEC. The company acquired 88 shares of the information services provider, valued at approximately $245,000.

A number of other major investors have also recently changed their holdings in GOOGL. International Assets Investment Management LLC increased its position in Alphabet shares by 6.1% in the 4th quarter. International Assets Investment Management LLC now owns 3,356 shares of the information services provider worth $9,717,000 after acquiring 192 additional shares last quarter. Qube Research & Technologies Ltd increased its position in Alphabet shares by 8.6% in the 4th quarter. Qube Research & Technologies Ltd now owns 21,839 shares of the information services provider worth $63,268,000 after acquiring 1,731 additional shares in the last quarter. Ignite Planners LLC acquired a new position in Alphabet stock in Q4 worth approximately $731,000. Sunburst Financial Group LLC increased its position in Alphabet shares by 9.4% in the fourth quarter. Sunburst Financial Group LLC now owns 292 shares of the information services provider worth $846,000 after acquiring 25 additional shares in the last quarter. Finally, Stony Point Wealth Management Inc. increased its position in Alphabet shares by 18.2% in the 4th quarter. Stony Point Wealth Management Inc. now owns 1,199 shares of the information services provider worth $3,474,000 after acquiring 185 additional shares last quarter. 41.70% of the shares are currently held by hedge funds and other institutional investors.

Analysts set new price targets

A number of research companies have recently published reports on GOOGL. Susquehanna Bancshares cut its price target on Alphabet from $187.50 to $150.00 and gave the company a “positive” rating in a research report on Wednesday July 27. Susquehanna reduced its price target on Alphabet from $187.50 to $150.00 and gave the company a “positive” rating in a Wednesday, July 27 research report. Oppenheimer cut his price target on Alphabet to $155.00 and set an “outperform” rating for the company in a Wednesday, July 27 research report. StockNews.com downgraded Alphabet from a “buy” rating to a “hold” rating in a Friday, April 29 research note. Finally, Rosenblatt Securities lowered its price target on Alphabet from $205.00 to $154.00 and set a “buy” rating on the stock in a Monday, July 25 research note. Five equity research analysts gave the stock a hold rating, thirty-four issued a buy rating and one gave the stock a strong buy rating. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.36.

Alphabet Stock Performance

NASDAQ GOOGL opened at $119.70 on Thursday. The company’s fifty-day moving average price is $155.43 and its two-hundred-day moving average price is $137.78. The stock has a market capitalization of $1.58 trillion, a PE ratio of 22.27, a PEG ratio of 1.90 and a beta of 1.08. Alphabet Inc. has a fifty-two week low of $101.88 and a fifty-two week high of $151.55. The company has a debt ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81.

Alphabet (NASDAQ: GOOGLGet a rating) last released its results on Tuesday, July 26. The information services provider reported earnings per share of $1.21 for the quarter, missing analyst consensus estimates of $1.32 per ($0.11). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. In the same quarter a year earlier, the company posted EPS of $27.26. On average, stock analysts expect Alphabet Inc. to post EPS of 5.22 for the current fiscal year.

Insider buying and selling

In related news, the director Anne Mather sold 20 shares of the company in a trade on Monday, June 27. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the sale, the director now owns 565 shares of the company, valued at $1,346,575.80. The sale was disclosed in a legal filing with the SEC, accessible via the SEC website. In related news, the director Anne Mather sold 20 shares of the company in a trade on Monday, June 27. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the sale, the director now owns 565 shares of the company, valued at $1,346,575.80. The sale was disclosed in a legal filing with the SEC, accessible via the SEC website. Also, director John L. Hennessy sold 33 shares of the company in a trade on Thursday, June 9. The stock was sold at an average price of $2,348.39, for a total transaction of $77,496.87. Following the completion of the sale, the administrator now directly owns 78 shares of the company, valued at approximately $183,174.42. Disclosure of this sale can be found here. Insiders sold a total of 42,852 shares of the company worth $15,750,955 over the past 90 days. 11.44% of the shares are held by insiders.

Alphabet Company Profile

(Get a rating)

Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It operates through Google Services, Google Cloud and Other Bets segments. The Google Services segment offers products and services, including Ads, Android, Chrome, Hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.

See also

Want to see which other hedge funds hold GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ: GOOGLGet a rating).

Institutional ownership by quarter for Alphabet (NASDAQ:GOOGL)



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Geraldine L. Melton