Strategic Financial Services Inc. Has $6.26 Million Stock Holdings in Alphabet Inc. $GOOG

Strategic Financial Services Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.2% in the second quarter, Holdings Channel.com reports. The fund owned 35,260 shares of the information services provider’s stock after selling 437 shares during the quarter. Alphabet comprises 0.3% of Strategic Financial Services Inc.’s holdings, making the stock its 27th largest holding. Strategic Financial Services Inc.’s holdings in Alphabet were worth $6,255,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of GOOG. IFS Advisors LLC grew its holdings in shares of Alphabet by 400.0% in the 2nd 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 grew its holdings in shares of Alphabet by 60.0% in the 2nd 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 grew its holdings in shares of Alphabet by 58.7% in 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 period. Fairman Group LLC grew its holdings in shares of Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The shares were 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 $4,236,785. This represents a 13.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. This represents a 1.34% 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 worth $55,805,379 in the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 2.4%

GOOG opened at $281.90 on Friday. 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 Inc. has a 12 month low of $142.66 and a 12 month high of $291.93. The firm’s fifty day simple moving average is $243.09 and its 200 day simple moving average is $199.85. The stock has a market capitalization of $3.41 trillion, a P/E ratio of 27.80, a P/E/G ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same period in the previous year, the business earned $2.12 EPS. The company’s revenue was up 15.9% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Scotiabank set a $336.00 price target on shares of Alphabet and gave the company a “sector outperform” rating in a report on Thursday. Pivotal Research boosted their price target on shares of Alphabet from $300.00 to $350.00 and gave the company a “buy” rating in a report on Thursday. Cantor Fitzgerald set a $310.00 price target on shares of Alphabet and gave the company a “neutral” rating in a report on Thursday. Mizuho set a $325.00 price target on shares of Alphabet in a report on Thursday. Finally, Raymond James Financial set a $275.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a research report on Friday, October 24th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $324.81.

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.