WFA of San Diego LLC cut its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 22.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,400 shares of the information services provider’s stock after selling 680 shares during the quarter. WFA of San Diego LLC’s holdings in Alphabet were worth $290,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Metropolitan Life Insurance Co NY bought a new stake in shares of Alphabet during the 2nd quarter worth about $26,941,000. GeoWealth Management LLC raised its holdings in Alphabet by 2.8% during the second quarter. GeoWealth Management LLC now owns 4,554 shares of the information services provider’s stock worth $551,000 after purchasing an additional 124 shares in the last quarter. Profund Advisors LLC lifted its position in Alphabet by 3.4% in the second quarter. Profund Advisors LLC now owns 267,759 shares of the information services provider’s stock worth $32,391,000 after purchasing an additional 8,770 shares during the period. Providence Capital Advisors LLC lifted its position in Alphabet by 1.3% in the second quarter. Providence Capital Advisors LLC now owns 55,838 shares of the information services provider’s stock worth $6,755,000 after purchasing an additional 703 shares during the period. Finally, Pinnacle Wealth Management LLC bought a new position in Alphabet during the 2nd quarter valued at $1,827,000. 27.13% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. Susquehanna upped their price objective on Alphabet from $120.00 to $150.00 in a report on Wednesday, July 26th. Robert W. Baird raised their price objective on shares of Alphabet from $123.00 to $140.00 in a research report on Wednesday, July 26th. Oppenheimer reiterated an “outperform” rating and issued a $160.00 target price on shares of Alphabet in a report on Wednesday, October 25th. Finally, Wedbush initiated coverage on shares of Alphabet in a report on Monday, August 21st. They set an “outperform” rating for the company. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, Alphabet has a consensus rating of “Buy” and an average price target of $130.69.
Alphabet Stock Up 0.4 %
Shares of GOOG traded up $0.51 during mid-day trading on Monday, reaching $137.45. The company’s stock had a trading volume of 3,612,150 shares, compared to its average volume of 25,843,408. Alphabet Inc. has a 1 year low of $85.57 and a 1 year high of $142.38. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.72 trillion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 1.53 and a beta of 1.05. The business has a fifty day moving average of $134.60 and a 200 day moving average of $128.47.
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. The firm had revenue of $64.05 billion during the quarter, compared to analyst estimates of $63.13 billion. As a group, analysts forecast that Alphabet Inc. will post 5.74 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the completion of the sale, the senior vice president now owns 75,621 shares of the company’s stock, valued at approximately $10,119,602.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Ann Mather sold 220 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $130.14, for a total value of $28,630.80. Following the transaction, the director now owns 4,818 shares in the company, valued at $627,014.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the transaction, the senior vice president now directly owns 75,621 shares in the company, valued at approximately $10,119,602.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 176,576 shares of company stock worth $23,425,367. 12.99% of the stock is owned by company insiders.
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.
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