Good Life Advisors LLC Has $2.75 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Good Life Advisors LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,967 shares of the information services provider’s stock after selling 2,330 shares during the quarter. Good Life Advisors LLC’s holdings in Alphabet were worth $2,749,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Modera Wealth Management LLC boosted its holdings in Alphabet by 11.4% during the first quarter. Modera Wealth Management LLC now owns 43,230 shares of the information services provider’s stock worth $4,484,000 after purchasing an additional 4,420 shares during the last quarter. Atria Investments Inc boosted its holdings in Alphabet by 7.4% during the first quarter. Atria Investments Inc now owns 316,800 shares of the information services provider’s stock worth $32,918,000 after purchasing an additional 21,907 shares during the last quarter. Hallmark Capital Management Inc. boosted its holdings in Alphabet by 8.9% during the first quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock worth $17,338,000 after purchasing an additional 13,605 shares during the last quarter. Marcum Wealth LLC lifted its stake in Alphabet by 4.8% in the first quarter. Marcum Wealth LLC now owns 20,372 shares of the information services provider’s stock valued at $2,113,000 after acquiring an additional 927 shares during the last quarter. Finally, Soltis Investment Advisors LLC lifted its stake in Alphabet by 17.1% in the first quarter. Soltis Investment Advisors LLC now owns 46,675 shares of the information services provider’s stock valued at $4,842,000 after acquiring an additional 6,825 shares during the last quarter. Institutional investors and hedge funds own 35.08% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $138.21 on Tuesday. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $139.16. The firm has a market cap of $1.74 trillion, a P/E ratio of 29.28, a P/E/G ratio of 1.59 and a beta of 1.06. The company’s 50-day moving average price is $129.60 and its two-hundred day moving average price is $117.88.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The company had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $60.24 billion. During the same period last year, the company posted $1.21 EPS. On average, analysts anticipate that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the sale, the senior vice president now directly owns 127,028 shares in the company, valued at approximately $15,282,738.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the sale, the senior vice president now directly owns 127,028 shares in the company, valued at approximately $15,282,738.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 42,900 shares of Alphabet stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $136.51, for a total transaction of $5,856,279.00. Following the sale, the insider now owns 10,383 shares in the company, valued at $1,417,383.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,092 shares of company stock worth $12,221,941. Corporate insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Bank of America increased their price target on shares of Alphabet from $142.00 to $146.00 and gave the company a “buy” rating in a research note on Wednesday, August 30th. Royal Bank of Canada increased their price target on shares of Alphabet from $145.00 to $155.00 in a research note on Wednesday, July 26th. Rosenblatt Securities increased their price target on shares of Alphabet from $132.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. TD Cowen increased their price target on shares of Alphabet from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, July 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price target on shares of Alphabet in a research note on Wednesday, September 13th. Four analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned 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 target price of $143.89.

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