Hoffman Alan N Investment Management Has $2.98 Million Stake in Alphabet Inc. $GOOG

Hoffman Alan N Investment Management trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,770 shares of the information services provider’s stock after selling 1,726 shares during the period. Alphabet comprises approximately 1.5% of Hoffman Alan N Investment Management’s investment portfolio, making the stock its 6th largest holding. Hoffman Alan N Investment Management’s holdings in Alphabet were worth $2,975,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. MorganRosel Wealth Management LLC purchased a new position in Alphabet in the first quarter valued at approximately $26,000. IFS Advisors LLC raised its stake 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 valued at $27,000 after buying an additional 120 shares during the period. Robbins Farley raised its stake in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares during the period. WestEnd Advisors LLC lifted its position in shares of Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after buying an additional 61 shares during the last quarter. Finally, Fairman Group LLC grew its stake in shares of 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 during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated 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 in the company, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 246,150 shares of company stock valued at $55,805,379 in the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG stock opened at $268.43 on Wednesday. The firm has a 50 day moving average of $239.97 and a 200-day moving average of $198.46. The firm has a market capitalization of $3.25 trillion, a P/E ratio of 28.59, a price-to-earnings-growth ratio of 1.82 and a beta of 1.00. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $271.38. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. DA Davidson set a $825.00 price target on shares of Alphabet in a research note on Monday. Finally, Oppenheimer set a $300.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a research note on Monday, October 20th. Five 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 stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $280.45.

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.