18,870 Shares in Alphabet Inc. (NASDAQ:GOOG) Purchased by Highline Wealth Partners LLC

Highline Wealth Partners LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOG) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,870 shares of the information services provider’s stock, valued at approximately $3,155,000. Alphabet accounts for approximately 1.1% of Highline Wealth Partners LLC’s investment portfolio, making the stock its 24th biggest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Trajan Wealth LLC increased its position in shares of Alphabet by 14.5% during the third quarter. Trajan Wealth LLC now owns 74,625 shares of the information services provider’s stock worth $12,477,000 after acquiring an additional 9,433 shares during the period. Highview Capital Management LLC DE increased its position in shares of Alphabet by 1.4% during the third quarter. Highview Capital Management LLC DE now owns 9,755 shares of the information services provider’s stock worth $1,631,000 after acquiring an additional 130 shares during the period. Nicholas Hoffman & Company LLC. increased its position in shares of Alphabet by 1.4% during the third quarter. Nicholas Hoffman & Company LLC. now owns 22,624 shares of the information services provider’s stock worth $3,782,000 after acquiring an additional 309 shares during the period. Fidelis Capital Partners LLC increased its position in shares of Alphabet by 0.7% during the third quarter. Fidelis Capital Partners LLC now owns 72,356 shares of the information services provider’s stock worth $11,901,000 after acquiring an additional 477 shares during the period. Finally, Valmark Advisers Inc. increased its holdings in Alphabet by 1.3% during the third quarter. Valmark Advisers Inc. now owns 31,250 shares of the information services provider’s stock valued at $5,225,000 after buying an additional 408 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several research reports. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Barclays raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday. Pivotal Research raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup lifted their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Canaccord Genuity Group lifted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the sale, the insider now directly owns 39,334 shares of the company’s stock, valued at $6,307,206.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,426 shares of company stock valued at $35,993,340. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 2.9 %

NASDAQ GOOG opened at $176.14 on Thursday. Alphabet Inc. has a 1 year low of $123.93 and a 1 year high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company has a fifty day moving average of $163.56 and a 200 day moving average of $170.30. The company has a market capitalization of $2.18 trillion, a PE ratio of 27.02, a P/E/G ratio of 1.27 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the previous year, the company earned $1.55 earnings per share. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. Research analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Company 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.