Liberty Square Wealth Partners LLC Sells 200 Shares of Alphabet Inc. $GOOG

Liberty Square Wealth Partners LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 8.5% during the second quarter, HoldingsChannel.com reports. The firm owned 2,149 shares of the information services provider’s stock after selling 200 shares during the quarter. Liberty Square Wealth Partners LLC’s holdings in Alphabet were worth $381,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Kingstone Capital Partners Texas LLC lifted its holdings in Alphabet by 580,897.4% during the 2nd 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 buying an additional 135,064,454 shares in the last quarter. Nuveen LLC bought a new position in Alphabet in the 1st quarter worth about $2,622,943,000. Vanguard Group Inc. grew its stake in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares during the period. Finally, Strs Ohio bought a new stake in shares of Alphabet during the first quarter valued at approximately $369,713,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Down 2.2%

Shares of NASDAQ GOOG opened at $251.34 on Wednesday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $257.88. The stock’s fifty day simple moving average is $234.23 and its two-hundred day simple moving average is $194.41. The stock has a market capitalization of $3.04 trillion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.74 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.89 EPS. As a group, analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the sale, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock worth $55,805,379 over the last quarter. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GOOG shares. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. Pivotal Research lifted their target price on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. Cowen reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, October 8th. Oppenheimer set a $300.00 price target on Alphabet and gave the stock an “outperform” rating in a research report on Monday. Finally, KeyCorp set a $265.00 price objective on Alphabet in a report on Wednesday, September 3rd. Six analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $246.26.

Alphabet Company Profile

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.