Alphabet Inc. $GOOG Shares Sold by Financial Alternatives Inc

Financial Alternatives Inc lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 19.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,490 shares of the information services provider’s stock after selling 350 shares during the quarter. Financial Alternatives Inc’s holdings in Alphabet were worth $264,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. REDW Wealth LLC increased its position in Alphabet by 2.3% during the 2nd quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock worth $428,000 after purchasing an additional 54 shares during the period. ACT Advisors LLC. boosted its stake in shares of Alphabet by 3.5% in the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after buying an additional 55 shares in the last quarter. Moser Wealth Advisors LLC grew its holdings in Alphabet by 2.2% during the second quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock worth $451,000 after acquiring an additional 55 shares during the period. LongView Wealth Management raised its position in Alphabet by 1.1% in the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after acquiring an additional 56 shares in the last quarter. Finally, Kooman & Associates lifted its holdings in Alphabet by 1.4% in the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after acquiring an additional 56 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on 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 sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $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 90 days, insiders have sold 189,896 shares of company stock worth $44,892,175. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 0.2%

Shares of NASDAQ GOOG opened at $285.34 on Friday. The firm’s 50-day moving average is $250.48 and its two-hundred day moving average is $204.23. The company has a market capitalization of $3.45 trillion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 12-month low of $142.66 and a 12-month 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 posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS 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 analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm’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 EPS. Equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GOOG shares. DA Davidson set a $825.00 price target on shares of Alphabet in a research note on Monday, October 27th. Barclays upped their target price on shares of Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Mizuho set a $325.00 price target on shares of Alphabet in a research report on Thursday, October 30th. Piper Sandler boosted their price target on Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, HSBC reaffirmed a “buy” rating and issued a $335.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $324.81.

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.