Thu Sep 19 09:00:28 UTC 2024: ## Alphabet Inc. (GOOGL) Sees Increased Investor Interest as Hedge Funds Buy More Shares

**New York, NY (MarketBeat News) –** Several prominent hedge funds have increased their stakes in Alphabet Inc. (NASDAQ:GOOGL) during the second quarter of 2024, reflecting growing confidence in the information services giant.

Nicholas Hoffman & Company LLC. led the charge, expanding its position in Alphabet by 1.2%, acquiring an additional 209 shares and bringing its total holdings to 16,942 shares valued at $3,086,000.

Other notable investors who boosted their Alphabet positions include:

* **MorganRosel Wealth Management LLC:** Increased its stake by 3.6% to 1,620 shares worth $295,000.
* **Hengehold Capital Management LLC:** Expanded its holdings by 0.8% to 7,224 shares valued at $1,316,000.
* **Christopher J. Hasenberg Inc:** Significantly increased its stake by 75.0% to 140 shares valued at $26,000.
* **Joseph P. Lucia & Associates LLC:** Boosted its position by 1.0% to 6,624 shares worth $1,000,000.
* **Sunflower Bank N.A.:** Grew its holdings by 1.0% to 6,309 shares valued at $1,149,000.

The surge in institutional investor interest comes on the heels of Alphabet’s strong second-quarter earnings report, where the company surpassed analysts’ expectations on both earnings and revenue. The information services provider reported $1.89 earnings per share, exceeding the consensus estimate of $1.85 by $0.04. Revenue for the quarter reached $84.74 billion, outperforming the anticipated $70.60 billion.

Despite this positive outlook, some insiders have been selling shares. Chief Accounting Officer Amie Thuener O’toole sold 2,835 shares on September 10th, while Senior Vice President Prabhakar Raghavan sold 3,262 shares on July 1st. However, corporate insiders still hold a significant 11.55% of Alphabet’s stock.

Analysts remain largely optimistic about Alphabet’s future, with eight rating the stock as a hold, twenty-eight recommending a buy, and two assigning a strong buy. MarketBeat.com currently gives Alphabet an average rating of “Moderate Buy” with an average price target of $201.08.

Overall, the recent increase in hedge fund buying and the positive earnings report suggest continued confidence in Alphabet’s growth trajectory. However, investors should also be aware of the insider selling activity and continue to monitor the company’s performance going forward.

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