Traynor Capital Management Inc. Has $10.58 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Traynor Capital Management Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,254 shares of the information services provider’s stock after acquiring an additional 1,393 shares during the period. Alphabet comprises 0.6% of Traynor Capital Management Inc.’s investment portfolio, making the stock its 23rd biggest holding. Traynor Capital Management Inc.’s holdings in Alphabet were worth $10,575,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GOOG. Twelve Points Wealth Management LLC lifted its position in Alphabet by 0.7% during the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after purchasing an additional 55 shares during the last quarter. PCG Wealth Advisors LLC lifted its stake in Alphabet by 3.1% during the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock worth $345,000 after purchasing an additional 57 shares during the last quarter. Investment Advisory Services Inc. TX ADV lifted its stake in Alphabet by 1.6% during the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after purchasing an additional 57 shares during the last quarter. Advisors Management Group Inc. ADV increased its position in shares of Alphabet by 2.0% during the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock valued at $540,000 after purchasing an additional 58 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC raised its holdings in shares of Alphabet by 11.1% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after buying an additional 60 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total value of $473,929.82. Following the sale, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,406,343.27. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock valued at $35,993,340 over the last three months. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 1.7 %

NASDAQ:GOOG opened at $171.14 on Wednesday. The company has a 50-day moving average price of $163.39 and a 200-day moving average price of $170.26. The stock has a market cap of $2.11 trillion, a price-to-earnings ratio of 26.25, a P/E/G ratio of 1.27 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $123.88 and a 12 month high of $193.31.

Analyst Upgrades and Downgrades

GOOG has been the topic of several research reports. TD Cowen lifted their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Oppenheimer reduced their price objective on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $186.90.

About Alphabet

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.