Trinity Legacy Partners LLC Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Trinity Legacy Partners LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 17.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,672 shares of the information services provider’s stock after selling 559 shares during the quarter. Trinity Legacy Partners LLC’s holdings in Alphabet were worth $320,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOGL. Spreng Capital Management Inc. lifted its holdings in Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after buying an additional 5 shares in the last quarter. West Family Investments Inc. grew its holdings in shares of Alphabet by 0.3% in the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after acquiring an additional 6 shares in the last quarter. Maple Capital Management Inc. grew its holdings in shares of Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after acquiring an additional 6 shares in the last quarter. Private Advisory Group LLC grew its holdings in shares of Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after acquiring an additional 7 shares in the last quarter. Finally, Weik Capital Management grew its holdings in shares of Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after acquiring an additional 8 shares in the last quarter. 35.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 3,749 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total transaction of $510,913.72. Following the completion of the transaction, the chief accounting officer now directly owns 25,568 shares in the company, valued at $3,484,407.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 3,749 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total transaction of $510,913.72. Following the sale, the chief accounting officer now owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now directly owns 127,028 shares in the company, valued at approximately $15,282,738.68. The disclosure for this sale can be found here. Insiders have sold a total of 96,092 shares of company stock valued at $12,221,941 in the last 90 days. Insiders own 0.88% of the company’s stock.

Alphabet Trading Up 0.6 %

NASDAQ GOOGL opened at $138.21 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. The company has a market capitalization of $1.74 trillion, a price-to-earnings ratio of 29.28, a price-to-earnings-growth ratio of 1.59 and a beta of 1.06. The company’s 50-day simple moving average is $129.60 and its two-hundred day simple moving average is $117.88. Alphabet Inc. has a one year low of $83.34 and a one year high of $139.16.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. The business had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $60.24 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. During the same quarter last year, the firm posted $1.21 EPS. Equities analysts forecast that Alphabet Inc. will post 5.68 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. KeyCorp raised their price objective on Alphabet from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 26th. StockNews.com started coverage on shares of Alphabet in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Royal Bank of Canada raised their target price on shares of Alphabet from $145.00 to $155.00 in a research note on Wednesday, July 26th. Evercore ISI raised their price objective on shares of Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 26th. Finally, Credit Suisse Group lifted their price target on shares of Alphabet from $135.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, July 17th. Four research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $143.89.

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.