Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 912,491 shares of the information services provider’s stock after selling 29,855 shares during the quarter. Alphabet comprises about 2.1% of Letko Brosseau & Associates Inc.’s holdings, making the stock its 16th largest position. Letko Brosseau & Associates Inc.’s holdings in Alphabet were worth $110,384,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. DC Investments Management LLC purchased a new position in Alphabet in the first quarter valued at about $115,000. Guardian Wealth Management Inc. bought a new position in Alphabet during the 1st quarter worth approximately $184,000. Turim 21 Investimentos Ltda. lifted its holdings in Alphabet by 10.8% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after buying an additional 8 shares during the last quarter. qPULA Trading Management LP bought a new position in Alphabet during the 1st quarter worth approximately $279,000. Finally, Dynamic Technology Lab Private Ltd lifted its holdings in Alphabet by 29.2% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 115 shares of the information services provider’s stock worth $321,000 after buying an additional 26 shares during the last quarter. Institutional investors and hedge funds own 27.13% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $139.93, for a total value of $27,986.00. Following the transaction, the director now directly owns 7,384 shares in the company, valued at $1,033,243.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total transaction of $510,913.72. Following the sale, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $139.93, for a total value of $27,986.00. Following the sale, the director now directly owns 7,384 shares in the company, valued at $1,033,243.12. The disclosure for this sale can be found here. Insiders have sold a total of 176,576 shares of company stock worth $23,425,367 over the last three months. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on GOOG. Robert W. Baird increased their target price on Alphabet from $123.00 to $140.00 in a report on Wednesday, July 26th. Wedbush initiated coverage on Alphabet in a research report on Monday, August 21st. They set an “outperform” rating on the stock. Oppenheimer reiterated an “outperform” rating and set a $160.00 price target on shares of Alphabet in a research report on Wednesday, October 25th. Finally, Susquehanna increased their price target on Alphabet from $120.00 to $150.00 in a research report on Wednesday, July 26th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $130.69.

Alphabet Stock Up 0.5 %

Shares of Alphabet stock traded up $0.73 during midday trading on Monday, hitting $137.67. The company’s stock had a trading volume of 7,940,240 shares, compared to its average volume of 25,861,334. The firm has a market capitalization of $1.72 trillion, a P/E ratio of 26.07, a PEG ratio of 1.53 and a beta of 1.05. The stock has a 50-day simple moving average of $134.60 and a 200-day simple moving average of $128.47. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1-year low of $85.57 and a 1-year high of $142.38.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. The firm had revenue of $64.05 billion during the quarter, compared to analysts’ expectations of $63.13 billion. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. As a group, sell-side analysts expect that Alphabet Inc. will post 5.74 earnings per share for the current year.

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