Quantum Private Wealth LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,552 shares of the information services provider’s stock after selling 311 shares during the quarter. Alphabet accounts for 3.0% of Quantum Private Wealth LLC’s investment portfolio, making the stock its 5th largest holding. Quantum Private Wealth LLC’s holdings in Alphabet were worth $5,569,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. DC Investments Management LLC acquired a new position in shares of Alphabet during the first quarter worth approximately $115,000. Guardian Wealth Management Inc. acquired a new position in shares of Alphabet during the first quarter worth approximately $184,000. Turim 21 Investimentos Ltda. raised its position in shares of Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after purchasing an additional 8 shares during the period. qPULA Trading Management LP acquired a new position in shares of Alphabet during the first quarter worth approximately $279,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Alphabet during the fourth quarter worth approximately $294,000. 27.17% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Alphabet
In related news, Director Frances Arnold sold 240 shares of the stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $120.02, for a total transaction of $28,804.80. Following the sale, the director now owns 13,040 shares of the company’s stock, valued at approximately $1,565,060.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Frances Arnold sold 240 shares of the stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $120.02, for a total transaction of $28,804.80. Following the sale, the director now owns 13,040 shares of the company’s stock, valued at approximately $1,565,060.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the sale, the director now directly owns 5,740 shares in the company, valued at approximately $721,231. The disclosure for this sale can be found here. In the last 90 days, insiders sold 816,599 shares of company stock worth $24,142,177. 12.99% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Alphabet Stock Down 0.3 %
GOOG stock opened at $120.56 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. The company has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.55 and a beta of 1.07. Alphabet Inc. has a fifty-two week low of $83.45 and a fifty-two week high of $129.55. The stock has a fifty day moving average of $119.36 and a 200-day moving average of $105.13.
Alphabet (NASDAQ:GOOG – Free Report) last posted its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.11. The company had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $68.80 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.23 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 5.39 earnings per share for the current year.
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.
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