Prime Capital Investment Advisors LLC Sells 1,321 Shares of Alphabet Inc (NASDAQ:GOOG)

Prime Capital Investment Advisors LLC decreased its holdings in Alphabet Inc (NASDAQ:GOOG) by 37.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,235 shares of the information services provider’s stock after selling 1,321 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Alphabet were worth $2,416,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Curbstone Financial Management Corp lifted its holdings in Alphabet by 4.3% during the 2nd quarter. Curbstone Financial Management Corp now owns 3,412 shares of the information services provider’s stock worth $3,688,000 after buying an additional 140 shares during the period. Veritas Investment Management LLP lifted its holdings in Alphabet by 2.8% during the 2nd quarter. Veritas Investment Management LLP now owns 34,098 shares of the information services provider’s stock worth $36,853,000 after buying an additional 936 shares during the period. B. Riley Wealth Management Inc. lifted its holdings in Alphabet by 9.0% during the 1st quarter. B. Riley Wealth Management Inc. now owns 980 shares of the information services provider’s stock worth $1,150,000 after buying an additional 81 shares during the period. Coronation Fund Managers Ltd. lifted its holdings in Alphabet by 18.8% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 14,918 shares of the information services provider’s stock worth $16,125,000 after buying an additional 2,363 shares during the period. Finally, Atlantic Union Bankshares Corp lifted its holdings in Alphabet by 4.2% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 699 shares of the information services provider’s stock worth $756,000 after buying an additional 28 shares during the period. Institutional investors own 34.00% of the company’s stock.

GOOG traded down $27.17 during midday trading on Friday, reaching $1,162.36. 580,885 shares of the company were exchanged, compared to its average volume of 1,712,932. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. The company’s fifty day moving average price is $1,170.23 and its 200 day moving average price is $1,155.94. The company has a market cap of $806.69 billion, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 1.30 and a beta of 0.96. Alphabet Inc has a one year low of $970.11 and a one year high of $1,289.27.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, topping analysts’ consensus estimates of $11.49 by $2.72. The firm had revenue of $38.94 billion during the quarter, compared to analyst estimates of $38.21 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the company posted $11.75 EPS. As a group, sell-side analysts anticipate that Alphabet Inc will post 52.1 earnings per share for the current fiscal year.

Several research analysts have commented on GOOG shares. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, July 26th. Benchmark reissued a “buy” rating and issued a $1,360.00 price objective (up from $1,315.00) on shares of Alphabet in a research note on Friday, July 26th. Cowen boosted their price objective on Alphabet from $1,400.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Royal Bank of Canada reissued a “buy” rating on shares of Alphabet in a research note on Tuesday, April 30th. Finally, Stifel Nicolaus downgraded Alphabet from a “buy” rating to a “hold” rating and set a $1,287.00 price objective on the stock. in a research note on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average target price of $1,378.93.

In other Alphabet news, Director Ann Mather sold 27 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $1,213.14, for a total transaction of $32,754.78. Following the completion of the sale, the director now directly owns 1,803 shares of the company’s stock, valued at approximately $2,187,291.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 75 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $1,238.57, for a total value of $92,892.75. Following the sale, the director now directly owns 276 shares of the company’s stock, valued at $341,845.32. The disclosure for this sale can be found here. Insiders have sold a total of 2,123 shares of company stock valued at $2,553,758 over the last three months. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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