Demars Financial Group LLC Sells 806,308 Shares of Alphabet Inc. $GOOG

Demars Financial Group LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 99.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,619 shares of the information services provider’s stock after selling 806,308 shares during the period. Alphabet makes up about 0.4% of Demars Financial Group LLC’s investment portfolio, making the stock its 25th largest position. Demars Financial Group LLC’s holdings in Alphabet were worth $997,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. IFS Advisors LLC grew its holdings in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley grew its holdings in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC grew its holdings in shares of Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares during the last quarter. MorganRosel Wealth Management LLC bought a new position in Alphabet during the 1st quarter worth about $26,000. Finally, Fairman Group LLC grew its holdings in Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after acquiring an additional 97 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, the chief accounting officer owned 14,516 shares of the company’s stock, valued at $3,629,725.80. The trade was a 16.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock worth $55,805,379 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $252.53 on Thursday. The stock has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 26.89, a PEG ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $257.88. The firm’s 50 day simple moving average is $235.22 and its 200-day simple moving average is $194.81. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

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

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent analyst reports. Scotiabank restated an “outperform” rating and issued a $310.00 price target on shares of Alphabet in a report on Thursday, October 16th. Robert W. Baird raised their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Mizuho upgraded shares of Alphabet to a “strong-buy” rating in a report on Monday, September 29th. Finally, TD Cowen raised their price target on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.