Interchange Capital Partners LLC Sells 1,346 Shares of Alphabet Inc. $GOOG

Interchange Capital Partners LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 16,184 shares of the information services provider’s stock after selling 1,346 shares during the quarter. Alphabet comprises 0.7% of Interchange Capital Partners LLC’s holdings, making the stock its 28th biggest holding. Interchange Capital Partners LLC’s holdings in Alphabet were worth $2,871,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GOOG. Kingstone Capital Partners Texas LLC grew 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 purchasing an additional 135,064,454 shares during the period. Nuveen LLC bought a new position in Alphabet during the first quarter valued at $2,622,943,000. Vanguard Group Inc. grew 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 purchasing an additional 9,687,855 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Alphabet by 9.9% in 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 position in shares of Alphabet in the first quarter worth $369,713,000. 27.26% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated 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 owned 2,369,619 shares in the company, valued at $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director owned 17,284 shares in the company, valued at $4,202,258.92. The trade was a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock valued at $55,805,379 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

NASDAQ:GOOG opened at $269.93 on Tuesday. The firm has a market capitalization of $3.26 trillion, a price-to-earnings ratio of 28.75, a P/E/G ratio of 1.76 and a beta of 1.00. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $270.80. The stock has a fifty day moving average of $238.65 and a 200 day moving average of $197.67. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Analysts Set New Price Targets

A number of research firms have recently commented on GOOG. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. UBS Group set a $255.00 price target on Alphabet and gave the stock a “neutral” rating in a report on Thursday, October 9th. Raymond James Financial set a $275.00 price target on Alphabet and gave the stock an “outperform” rating in a report on Friday. Finally, Cowen reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $280.45.

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.