Novare Capital Management LLC Sells 215 Shares of Alphabet Inc. $GOOG

Novare Capital Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,572 shares of the information services provider’s stock after selling 215 shares during the quarter. Novare Capital Management LLC’s holdings in Alphabet were worth $811,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GOOG. Kingstone Capital Partners Texas LLC raised its holdings in Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after acquiring an additional 135,064,454 shares during the period. Nuveen LLC bought a new stake in Alphabet during the first quarter valued at about $2,622,943,000. Vanguard Group Inc. raised its holdings in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares during the period. JPMorgan Chase & Co. raised its holdings in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after acquiring an additional 9,243,959 shares during the period. Finally, Strs Ohio bought a new stake in Alphabet during the first quarter valued at about $369,713,000. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Morgan Stanley raised their price target on Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Mizuho raised Alphabet to a “strong-buy” rating in a report on Monday, September 29th. Oppenheimer set a $300.00 price target on Alphabet and gave the company an “outperform” rating in a report on Monday. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Finally, JPMorgan Chase & Co. raised their price objective on Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $246.26.

Alphabet Trading Up 1.3%

Shares of Alphabet stock opened at $257.02 on Tuesday. The firm has a market cap of $3.11 trillion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.72 and a beta of 1.00. The business has a 50-day moving average price of $233.29 and a 200-day moving average price of $194.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $257.88.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 246,150 shares of company stock worth $55,805,379. 12.99% of the stock is currently owned by company insiders.

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.