Horizon Family Wealth Inc. Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

by · The Cerbat Gem

Horizon Family Wealth Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,105 shares of the information services provider’s stock after purchasing an additional 206 shares during the quarter. Alphabet makes up 0.6% of Horizon Family Wealth Inc.’s holdings, making the stock its 26th biggest position. Horizon Family Wealth Inc.’s holdings in Alphabet were worth $611,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Live Oak Investment Partners acquired a new stake in Alphabet during the 4th quarter worth $26,000. Armor Investment Advisors LLC acquired a new stake in shares of Alphabet in the second quarter valued at about $28,000. CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Alphabet by 136.7% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 284 shares of the information services provider’s stock worth $34,000 after buying an additional 164 shares in the last quarter. Sanctuary Wealth Management L.L.C. acquired a new position in Alphabet during the fourth quarter worth about $34,000. Finally, Turim 21 Investimentos Ltda. purchased a new stake in Alphabet during the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 35.08% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research reports. Morgan Stanley decreased their target price on shares of Alphabet from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. KeyCorp cut their price target on Alphabet from $155.00 to $153.00 and set an “overweight” rating for the company in a report on Wednesday, October 25th. Piper Sandler boosted their price objective on Alphabet from $147.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 25th. Barclays cut their target price on Alphabet from $200.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, October 25th. Finally, Roth Mkm lifted their price target on Alphabet from $146.00 to $152.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Five research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.12.

Get Our Latest Stock Report on GOOGL

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $139.93, for a total value of $27,986.00. Following the sale, the director now owns 7,384 shares of the company’s stock, valued at approximately $1,033,243.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $139.93, for a total transaction of $27,986.00. Following the completion of the transaction, the director now owns 7,384 shares in the company, valued at approximately $1,033,243.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frances Arnold sold 250 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $124.36, for a total transaction of $31,090.00. Following the completion of the sale, the director now owns 14,226 shares in the company, valued at $1,769,145.36. The disclosure for this sale can be found here. Insiders sold 176,776 shares of company stock valued at $23,452,924 in the last three months. 0.88% of the stock is owned by corporate insiders.

Alphabet Trading Down 0.5 %

Shares of GOOGL stock opened at $131.86 on Friday. The stock has a market capitalization of $1.65 trillion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 1.38 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $84.86 and a fifty-two week high of $141.22. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.01 and a current ratio of 2.04. The company has a 50 day moving average price of $133.53 and a 200 day moving average price of $129.23.

Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings results on Tuesday, October 24th. The information services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.45 by $0.10. The business had revenue of $64.05 billion during the quarter, compared to the consensus estimate of $63.13 billion. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. Equities research analysts predict that Alphabet Inc. will post 5.75 EPS for the current fiscal year.

Alphabet Profile

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

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