Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Institutional & Family Asset Management LLC

Institutional & Family Asset Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,237 shares of the information services provider’s stock after selling 126 shares during the period. Institutional & Family Asset Management LLC’s holdings in Alphabet were worth $148,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after buying an additional 453,413,389 shares in the last quarter. State Street Corp lifted its stake in Alphabet by 1,900.6% in the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after buying an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Alphabet by 111,197.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after buying an additional 170,267,122 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Alphabet by 1,759.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after buying an additional 109,870,525 shares in the last quarter. Finally, Norges Bank purchased a new position in Alphabet in the 4th quarter valued at about $8,335,063,000. 35.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 3,749 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the sale, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CAO Amie Thuener O’toole sold 3,749 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the sale, the chief accounting officer now directly 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 is available through this link. Also, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the completion of the sale, the senior vice president now directly owns 75,621 shares of the company’s stock, valued at $10,119,602.22. The disclosure for this sale can be found here. Insiders sold a total of 176,576 shares of company stock valued at $23,425,367 over the last ninety days. Insiders own 0.88% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $136.25 on Tuesday. The stock has a market cap of $1.71 trillion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 1.51 and a beta of 1.05. The company has a fifty day simple moving average of $133.42 and a 200-day simple moving average of $127.88. Alphabet Inc. has a 12-month low of $84.86 and a 12-month high of $141.22. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. The firm had revenue of $64.05 billion during the quarter, compared to analysts’ expectations of $63.13 billion. Equities analysts expect that Alphabet Inc. will post 5.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Needham & Company LLC raised their price target on shares of Alphabet from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Morgan Stanley decreased their target price on shares of Alphabet from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. Sanford C. Bernstein raised their target price on shares of Alphabet from $130.00 to $135.00 in a research note on Wednesday, July 26th. Piper Sandler raised their target price on shares of Alphabet from $147.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 25th. Finally, Loop Capital raised their target price on shares of Alphabet from $125.00 to $140.00 and gave the stock a “hold” rating in a research note on Friday, August 18th. Five analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

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