Focused Wealth Management Inc Acquires 353 Shares of Alphabet Inc. (NASDAQ:GOOGL)

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Focused Wealth Management Inc raised its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 226.3% during the first quarter, Holdings Channel reports. The institutional investor owned 509 shares of the information services provider’s stock after buying an additional 353 shares during the quarter. Focused Wealth Management Inc’s holdings in Alphabet were worth $1,416,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. State Street Corp lifted its stake in shares of Alphabet by 1.4% in the fourth quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock valued at $32,599,789,000 after buying an additional 157,280 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Alphabet by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 5,322,633 shares of the information services provider’s stock valued at $15,381,257,000 after buying an additional 116,084 shares in the last quarter. Norges Bank bought a new position in shares of Alphabet in the fourth quarter valued at $14,477,662,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Alphabet by 0.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,825,959 shares of the information services provider’s stock valued at $8,186,916,000 after buying an additional 20,120 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Alphabet by 14.1% in the fourth quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider’s stock valued at $6,640,190,000 after buying an additional 283,907 shares in the last quarter. 41.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on GOOGL shares. Guggenheim lowered their target price on shares of Alphabet from $167.50 to $150.00 in a report on Wednesday, April 27th. BNP Paribas downgraded shares of Alphabet from an “outperform” rating to a “neutral” rating and set a $118.00 target price for the company. in a report on Wednesday, July 20th. Wolfe Research lowered their target price on shares of Alphabet from $175.00 to $145.00 and set an “outperform” rating for the company in a report on Wednesday, April 27th. Rosenblatt Securities lowered their target price on shares of Alphabet to $205.00 and set a “buy” rating for the company in a report on Monday. Finally, Jefferies Financial Group lowered their target price on shares of Alphabet from $170.00 to $155.00 in a report on Tuesday, May 24th. Three investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $158.25.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 490 shares of Alphabet stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $2,335.30, for a total transaction of $1,144,297.00. Following the completion of the sale, the senior vice president now directly owns 497 shares in the company, valued at $1,160,644.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 490 shares of Alphabet stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $2,335.30, for a total transaction of $1,144,297.00. Following the transaction, the senior vice president now directly owns 497 shares of the company’s stock, valued at $1,160,644.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 42 shares of Alphabet stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $2,335.30, for a total transaction of $98,082.60. Following the transaction, the chief accounting officer now directly owns 1,170 shares in the company, valued at $2,732,301. The disclosure for this sale can be found here. Insiders sold a total of 5,739 shares of company stock worth $12,616,323 over the last three months. 11.44% of the stock is owned by insiders.

Alphabet Trading Down 0.4 %

Shares of Alphabet stock opened at $107.51 on Tuesday. Alphabet Inc. has a 1 year low of $101.88 and a 1 year high of $151.55. The firm has a market cap of $70.80 billion, a PE ratio of 19.45, a PEG ratio of 1.12 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.87 and a quick ratio of 2.85. The company has a 50 day simple moving average of $154.44 and a two-hundred day simple moving average of $139.49.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its earnings results on Tuesday, April 26th. The information services provider reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.05). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. The company had revenue of $56.02 billion for the quarter, compared to the consensus estimate of $56.17 billion. During the same quarter in the previous year, the firm earned $1.31 earnings per share. Analysts expect that Alphabet Inc. will post 5.37 earnings per share for the current fiscal year.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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