Optimum Investment Advisors Purchases 100 Shares of Alphabet Inc. $GOOG

Optimum Investment Advisors grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,373 shares of the information services provider’s stock after purchasing an additional 100 shares during the period. Alphabet accounts for about 1.8% of Optimum Investment Advisors’ investment portfolio, making the stock its 8th largest position. Optimum Investment Advisors’ holdings in Alphabet were worth $4,146,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.6%

Shares of GOOG stock opened at $268.43 on Wednesday. The stock has a market cap of $3.25 trillion, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 1.82 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 fifty-two week low of $142.66 and a fifty-two week high of $271.38. The firm’s 50 day moving average price is $239.97 and its two-hundred day moving average price is $198.46.

Analysts Set New Price Targets

GOOG has been the subject of a number of recent analyst reports. UBS Group set a $255.00 target price on shares of Alphabet and gave the company a “neutral” rating in a report on Thursday, October 9th. TD Cowen boosted their target price on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Raymond James Financial set a $275.00 target price on shares of Alphabet and gave the company an “outperform” rating in a report on Friday. Pivotal Research boosted their target price on shares of Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Finally, Piper Sandler restated a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Five analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $280.45.

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.