Alphabet Inc. $GOOG Shares Sold by WNY Asset Management LLC

WNY Asset Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,610 shares of the information services provider’s stock after selling 160 shares during the quarter. WNY Asset Management LLC’s holdings in Alphabet were worth $1,527,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. IFS Advisors LLC boosted 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 valued at $27,000 after acquiring an additional 120 shares in the last quarter. Robbins Farley boosted 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 valued at $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC boosted 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 valued at $29,000 after acquiring an additional 61 shares in the last quarter. Fairman Group LLC boosted its holdings in shares of Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alphabet in the first quarter valued at about $32,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 0.0%

Shares of NASDAQ GOOG opened at $281.82 on Friday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $291.93. The company has a market capitalization of $3.41 trillion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm’s 50-day moving average is $244.59 and its two-hundred day moving average is $200.68.

Alphabet (NASDAQ:GOOG) last announced 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 company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter in the prior year, the firm earned $2.12 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on GOOG shares. Wolfe Research lifted their target price on shares of Alphabet from $290.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday. Barclays lifted their target price on shares of Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday. Bank of America boosted their price objective on shares of Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Cantor Fitzgerald set a $310.00 price objective on shares of Alphabet and gave the stock a “neutral” rating in a report on Thursday. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $324.81.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 246,150 shares of company stock valued at $55,805,379. 12.99% of the stock is owned by company insiders.

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.