Resonant Capital Advisors LLC Purchases 1,519 Shares of Alphabet Inc. $GOOG

Resonant Capital Advisors LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 3.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,659 shares of the information services provider’s stock after buying an additional 1,519 shares during the period. Resonant Capital Advisors LLC’s holdings in Alphabet were worth $8,632,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. RDA Financial Network raised its stake in Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after buying an additional 554 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Alphabet by 1.4% during the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after buying an additional 2,304 shares during the last quarter. Oldfather Financial Services LLC purchased a new position in Alphabet in the 2nd quarter worth $213,000. Tower View Wealth Management LLC grew its stake in Alphabet by 6.9% during the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after purchasing an additional 1,776 shares during the last quarter. Finally, Dock Street Asset Management Inc. raised its stake in shares of Alphabet by 0.8% in the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock worth $41,563,000 after purchasing an additional 1,970 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. TD Cowen lifted their price objective on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. KeyCorp set a $265.00 target price on Alphabet in a research note on Wednesday, September 3rd. Cowen reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, October 8th. Mizuho raised shares of Alphabet to a “strong-buy” rating in a report on Monday, September 29th. Finally, UBS Group set a $255.00 price target on Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 9th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $280.45.

Alphabet Trading Down 0.6%

Shares of GOOG stock opened at $268.43 on Wednesday. The stock’s fifty day moving average is $239.97 and its two-hundred day moving average is $198.46. The firm 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. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $271.38.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the sale, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. This represents a 1.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 246,150 shares of company stock worth $55,805,379 in the last ninety days. Insiders own 12.99% of the company’s stock.

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.