Hoffman Alan N Investment Management Sells 1,999 Shares of Alphabet Inc. $GOOGL

Hoffman Alan N Investment Management trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,452 shares of the information services provider’s stock after selling 1,999 shares during the quarter. Alphabet makes up 5.6% of Hoffman Alan N Investment Management’s portfolio, making the stock its 5th biggest position. Hoffman Alan N Investment Management’s holdings in Alphabet were worth $11,358,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Mystic Asset Management Inc. boosted its position in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after purchasing an additional 1,791 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in Alphabet by 17.9% during the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after buying an additional 13,371 shares during the last quarter. Alaethes Wealth LLC grew its position in shares of Alphabet by 1.1% during the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after buying an additional 84 shares during the period. Moment Partners LLC increased its stake in shares of Alphabet by 9.3% in the 2nd quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after acquiring an additional 504 shares during the last quarter. Finally, Blackhawk Capital Partners LLC. increased its stake in shares of Alphabet by 8.4% in the 1st quarter. Blackhawk Capital Partners LLC. now owns 31,244 shares of the information services provider’s stock valued at $4,832,000 after acquiring an additional 2,434 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the transaction, the chief executive officer directly owned 2,369,619 shares in the company, valued at $592,760,192.85. This represents a 1.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the sale, the director directly owned 18,004 shares in the company, valued at approximately $5,253,567.20. This represents a 0.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 189,896 shares of company stock worth $44,892,175. 11.64% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GOOGL. Roth Capital boosted their price objective on shares of Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Daiwa Capital Markets lifted their price target on shares of Alphabet from $233.00 to $333.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America upped their price objective on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. CIBC lifted their target price on Alphabet to $315.00 in a report on Monday, October 20th. Finally, New Street Research boosted their target price on Alphabet from $275.00 to $295.00 in a research note on Friday, October 24th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $304.10.

Alphabet Stock Up 0.2%

NASDAQ:GOOGL opened at $284.75 on Friday. The stock has a 50-day simple moving average of $249.91 and a 200 day simple moving average of $203.28. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $291.59. The company has a market cap of $3.44 trillion, a PE ratio of 28.08, a PEG ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during 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%. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet 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.