Mayflower Financial Advisors LLC Boosts Stock Holdings in Alphabet Inc. $GOOG

Mayflower Financial Advisors LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,717 shares of the information services provider’s stock after purchasing an additional 2,571 shares during the period. Alphabet makes up approximately 0.8% of Mayflower Financial Advisors LLC’s portfolio, making the stock its 26th biggest holding. Mayflower Financial Advisors LLC’s holdings in Alphabet were worth $5,981,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. ACT Advisors LLC. raised its stake in shares of Alphabet by 3.5% in the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after acquiring an additional 55 shares during the period. Moser Wealth Advisors LLC raised its stake in shares of Alphabet by 2.2% in the 2nd quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock valued at $451,000 after acquiring an additional 55 shares during the period. LongView Wealth Management raised its stake in shares of Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after acquiring an additional 56 shares during the period. Kooman & Associates raised its stake in shares of Alphabet by 1.4% in the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after acquiring an additional 56 shares during the period. Finally, Greenup Street Wealth Management LLC raised its stake in shares of Alphabet by 0.5% in the 2nd quarter. Greenup Street Wealth Management LLC now owns 11,656 shares of the information services provider’s stock valued at $2,068,000 after acquiring an additional 56 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of a number of research reports. Roth Capital reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Morgan Stanley raised their target price on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Sanford C. Bernstein raised their target price on shares of Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday. Scotiabank set a $336.00 target price on shares of Alphabet and gave the company a “sector outperform” rating in a research note on Thursday. Finally, Pivotal Research raised their target price on shares of Alphabet from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $324.81.

Alphabet Stock Performance

Alphabet stock opened at $281.82 on Friday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $291.93. The company has a market capitalization of $3.41 trillion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm’s fifty day moving average price is $244.59 and its 200 day moving average price is $200.68.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analyst estimates 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 period last year, the business earned $2.12 EPS. On average, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the firm’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 completion of the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’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 of the company’s stock, valued at approximately $598,149,304. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 246,150 shares of company stock valued at $55,805,379 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

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.