Aaron Wealth Advisors LLC acquires 4,702,590 shares of Alphabet Inc. (NASDAQ:GOOGL)


Aaron Wealth Advisors LLC increased its stake in Alphabet Inc. (NASDAQ: GOOGLGet a rating) by 699,790.2% in the first quarter, Participation channel reports. The company held 4,703,262 shares of the information services provider after purchasing an additional 4,702,590 shares during the period. Aaron Wealth Advisors LLC’s holdings in Alphabet were worth $1,691,000 when it was last filed with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Dravo Bay LLC bought a new position in Alphabet in Q1 worth $28,000. West Bancorporation Inc. bought a new position in Alphabet stock during Q4 for $29,000. Wealthgate Family Office LLC bought a new position in Alphabet stock during Q4 for $32,000. NS Partners Ltd bought a new position in Alphabet shares during Q4 worth $41,000. Finally, Greenspring Advisors LLC increased its position in Alphabet shares by 76.6% during the 1st quarter. Greenspring Advisors LLC now owns 491 shares of the information services provider valued at $49,000 after buying 213 additional shares in the last quarter. Institutional investors hold 41.70% of the company’s shares.

Insider buying and selling

In related news, the director John L. Hennessy sold 500 shares of the company in a trade that took place on Wednesday, August 10. The stock was sold at an average price of $120.00, for a total transaction of $60,000.00. As a result of the transaction, the administrator now directly owns 34,760 shares of the company, valued at approximately $4,171,200. The transaction was disclosed in an SEC filing, which is available via this hyperlink. Separately, director John L. Hennessy sold 500 shares of the company in a trade that took place on Wednesday, August 10. The stock was sold at an average price of $120.00, for a total transaction of $60,000.00. As a result of the transaction, the administrator now directly owns 34,760 shares of the company, valued at approximately $4,171,200. The transaction was disclosed in an SEC filing, which is available via this hyperlink. Also, CAD Amie Thuener O’toole sold 42 shares in a trade that took place on Wednesday, June 1. The stock was sold at an average price of $2,298.63, for a total value of $96,542.46. Following the completion of the sale, the chief accounting officer now owns 1,181 shares of the company, valued at approximately $2,714,682.03. Disclosure of this sale can be found here. Insiders sold a total of 42,831 shares of the company worth $15,706,796 in the past ninety days. 11.44% of the shares are held by insiders.

Alphabet Price Performance

Shares of Alphabetical stock opened at $113.86 on Wednesday. The company’s 50-day moving average price is $156.48 and its 200-day moving average price is $136.60. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt ratio of 0.06. Alphabet Inc. has a 12-month low of $101.88 and a 12-month high of $151.55. The company has a market capitalization of $1.50 trillion, a PE ratio of 21.18, a growth price-earnings ratio of 1.90 and a beta of 1.08.

Alphabet (NASDAQ: GOOGLGet a rating) last released its quarterly results on Tuesday, July 26. The information services provider reported earnings per share (EPS) of $1.21 for the quarter, missing the consensus estimate of $1.27 per ($0.06). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. The company posted revenue of $57.47 billion for the quarter, versus a consensus estimate of $57.55 billion. In the same quarter a year earlier, the company had earned earnings per share of $27.26. Sell-side analysts expect Alphabet Inc. to post an EPS of 5.2 for the current fiscal year.

Wall Street analysts predict growth

A number of research analysts have recently commented on GOOGL’s actions. BMO Capital Markets lowered its price target on Alphabet from $165.00 to $150.00 and set an “outperform” rating on the stock in a Wednesday, April 27 research report. Rosenblatt Securities lowered its price target on Alphabet from $205.00 to $154.00 and set a “buy” rating on the stock in a Monday, July 25 research report. Piper Sandler lowered its price target on Alphabet from $139.00 to $135.00 and set an “overweight” rating on the stock in a Wednesday, July 27 research report. William Blair reaffirmed an “outperform” rating on Alphabet shares in a Wednesday, July 27 research report. Finally, KeyCorp lowered its price target on Alphabet from $153.00 to $125.00 and set an “overweight” rating on the stock in a Tuesday, July 26 research report. Five research analysts gave the stock a hold rating, thirty-four gave the company a buy rating and one gave the company a strong buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.36.

Alphabetical Profile

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Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, 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.

See also

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Institutional ownership by quarter for Alphabet (NASDAQ:GOOGL)



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