Atria Wealth Solutions Inc. Makes New $31.97 Million Investment in Alphabet Inc. (NASDAQ:GOOGL)

Atria Wealth Solutions Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) during the first quarter, Holdings Channel reports. The fund purchased 11,492 shares of the information services provider’s stock, valued at approximately $31,965,000. Alphabet accounts for approximately 0.5% of Atria Wealth Solutions Inc.’s portfolio, making the stock its 27th biggest holding.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Alphabet by 1.4% in the first quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock valued at $64,817,723,000 after acquiring an additional 331,945 shares in the last quarter. State Street Corp raised 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 acquiring an additional 157,280 shares in the last quarter. Geode Capital Management LLC increased its holdings in 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 during the last quarter. Norges Bank purchased a new position in Alphabet in the fourth quarter valued at $14,477,662,000. Finally, Aaron Wealth Advisors LLC increased its holdings in Alphabet by 699,790.2% in the first quarter. Aaron Wealth Advisors LLC now owns 4,703,262 shares of the information services provider’s stock valued at $1,691,000 after buying an additional 4,702,590 shares during the last quarter. 1.88% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

GOOGL stock opened at $110.65 on Friday. The firm has a 50 day moving average of $113.69 and a 200-day moving average of $119.73. Alphabet Inc. has a 12-month low of $101.88 and a 12-month high of $151.55. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.44 trillion, a price-to-earnings ratio of 20.59, a PEG ratio of 1.79 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. The company had revenue of $57.47 billion for the quarter, compared to analyst estimates of $57.55 billion. During the same quarter in the previous year, the business posted $27.26 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 5.21 EPS for the current fiscal year.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 1,109 shares of Alphabet stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the completion of the sale, the senior vice president now directly owns 1,608 shares in the company, valued at approximately $3,484,117.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Prabhakar Raghavan sold 1,109 shares of Alphabet stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the completion of the transaction, the senior vice president now directly owns 1,608 shares in the company, valued at approximately $3,484,117.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Philipp Schindler sold 3,834 shares of Alphabet stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $2,182.62, for a total value of $8,368,165.08. Following the transaction, the senior vice president now owns 12,676 shares of the company’s stock, valued at $27,666,891.12. The disclosure for this sale can be found here. In the last three months, insiders sold 43,036 shares of company stock worth $15,564,998. Company insiders own 11.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GOOGL shares. Truist Financial dropped their target price on Alphabet from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. Monness Crespi & Hardt dropped their target price on Alphabet to $145.00 in a report on Tuesday, July 5th. UBS Group dropped their target price on Alphabet from $133.00 to $132.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. Rosenblatt Securities increased their target price on Alphabet from $154.00 to $156.00 and gave the company a “buy” rating in a report on Wednesday. Finally, KeyCorp dropped their price objective on Alphabet from $153.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, July 26th. Five analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.41.

Alphabet Company Profile

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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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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