Hixon Zuercher LLC Sells 569 Shares of Alphabet Inc. $GOOGL

Hixon Zuercher LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,014 shares of the information services provider’s stock after selling 569 shares during the quarter. Alphabet makes up approximately 1.6% of Hixon Zuercher LLC’s portfolio, making the stock its 23rd largest holding. Hixon Zuercher LLC’s holdings in Alphabet were worth $4,937,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Nuveen LLC acquired a new position in Alphabet during the 1st quarter worth $4,317,606,000. Vanguard Group Inc. lifted its position in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after purchasing an additional 4,473,901 shares during the last quarter. Amundi boosted its stake in Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock valued at $5,034,992,000 after purchasing an additional 3,537,173 shares during the period. Finally, Evergreen Quality Fund GP Ltd. grew its holdings in Alphabet by 178.3% in the 1st quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock valued at $619,163,000 after buying an additional 2,565,400 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of GOOGL stock opened at $284.75 on Friday. The stock’s fifty day simple moving average is $249.91 and its 200 day simple moving average is $203.28. Alphabet Inc. has a one year low of $140.53 and a one year high of $291.59. The firm has a market cap of $3.44 trillion, a price-to-earnings ratio of 28.08, a P/E/G ratio of 1.86 and a beta of 1.05. 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:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. On average, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet 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. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares in the company, valued at $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 189,896 shares of company stock valued at $44,892,175 in the last ninety days. Insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research reports. JMP Securities reissued a “market outperform” rating and issued a $290.00 price target on shares of Alphabet in a report on Wednesday, October 22nd. Loop Capital upped their price objective on shares of Alphabet from $190.00 to $260.00 and gave the company a “hold” rating in a research report on Friday, October 24th. Daiwa Capital Markets lifted their target price on Alphabet from $233.00 to $333.00 and gave the stock a “buy” rating in a research report on Thursday. DZ Bank restated a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Finally, KeyCorp reiterated an “overweight” rating and issued a $300.00 price objective (up previously from $265.00) on shares of Alphabet in a research report on Monday, October 27th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $304.10.

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.