Phillips Financial Management LLC Boosts Holdings in Alphabet Inc. $GOOG

Phillips Financial Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 7.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,839 shares of the information services provider’s stock after buying an additional 353 shares during the period. Phillips Financial Management LLC’s holdings in Alphabet were worth $858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Citizens & Northern Corp grew its position in Alphabet by 3.1% in the 2nd quarter. Citizens & Northern Corp now owns 44,781 shares of the information services provider’s stock valued at $7,944,000 after buying an additional 1,346 shares during the last quarter. Jacobsen Capital Management boosted its position in shares of Alphabet by 27.9% during the 2nd quarter. Jacobsen Capital Management now owns 7,489 shares of the information services provider’s stock worth $1,328,000 after purchasing an additional 1,635 shares in the last quarter. Chokshi & Queen Wealth Advisors Inc boosted its position in shares of Alphabet by 95.1% during the 2nd quarter. Chokshi & Queen Wealth Advisors Inc now owns 9,440 shares of the information services provider’s stock worth $1,675,000 after purchasing an additional 4,601 shares in the last quarter. Studio Investment Management LLC boosted its position in shares of Alphabet by 4.3% during the 2nd quarter. Studio Investment Management LLC now owns 4,691 shares of the information services provider’s stock worth $832,000 after purchasing an additional 192 shares in the last quarter. Finally, Schulhoff & Co. Inc. purchased a new stake in shares of Alphabet during the 2nd quarter worth $239,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at $598,149,304. The trade was a 1.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 246,150 shares of company stock valued at $55,805,379. 12.99% of the stock is owned by insiders.

Alphabet Trading Down 2.2%

NASDAQ:GOOG opened at $251.34 on Wednesday. The stock has a fifty day simple moving average of $234.23 and a 200-day simple moving average of $194.41. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $257.88. The company has a market capitalization of $3.04 trillion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.74 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 (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the previous year, the company posted $1.89 EPS. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Cowen restated a “buy” rating on shares of Alphabet in a research report on Wednesday, October 8th. Lake Street Capital restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Mizuho upgraded shares of Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. Finally, Oppenheimer set a $300.00 target price on shares of Alphabet and gave the stock an “outperform” rating in a research report on Monday. 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 issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $246.26.

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.