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

Milestone Asset Management LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 7.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,551 shares of the information services provider’s stock after selling 200 shares during the quarter. Milestone Asset Management LLC’s holdings in Alphabet were worth $453,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Pointe Capital Management LLC lifted its holdings in shares of Alphabet by 5.9% in the 2nd quarter. Pointe Capital Management LLC now owns 10,551 shares of the information services provider’s stock valued at $1,872,000 after buying an additional 588 shares during the period. Rockline Wealth Management LLC lifted its holdings in shares of Alphabet by 3.7% in the 2nd quarter. Rockline Wealth Management LLC now owns 58,570 shares of the information services provider’s stock valued at $10,390,000 after buying an additional 2,101 shares during the period. Elyxium Wealth LLC lifted its holdings in shares of Alphabet by 7.4% in the 2nd quarter. Elyxium Wealth LLC now owns 15,459 shares of the information services provider’s stock valued at $2,742,000 after buying an additional 1,070 shares during the period. Next Capital Management LLC increased its stake in shares of Alphabet by 84.4% in the 2nd quarter. Next Capital Management LLC now owns 6,784 shares of the information services provider’s stock valued at $1,203,000 after purchasing an additional 3,105 shares in the last quarter. Finally, Fullcircle Wealth LLC increased its stake in shares of Alphabet by 3.0% in the 2nd quarter. Fullcircle Wealth LLC now owns 4,658 shares of the information services provider’s stock valued at $912,000 after purchasing an additional 137 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $278.06 on Wednesday. The company has a market cap of $3.36 trillion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. The stock’s 50 day simple moving average is $247.49 and its 200-day simple moving average is $203.10. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $291.93. 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 released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.12 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GOOG. KeyCorp restated an “overweight” rating and issued a $330.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Lake Street Capital restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. JPMorgan Chase & Co. lifted their price target on Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Finally, Rosenblatt Securities set a $279.00 price target on Alphabet in a research note on Thursday, October 30th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $324.81.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director owned 6,916 shares in the company, valued at $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were 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 approximately $4,236,785. This trade represents a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 190,896 shares of company stock worth $45,092,175. 12.99% of the stock is owned by insiders.

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.