Alliance Wealth Advisors LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 10.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,817 shares of the information services provider’s stock after selling 2,120 shares during the quarter. Alphabet accounts for approximately 1.6% of Alliance Wealth Advisors LLC’s portfolio, making the stock its 15th largest holding. Alliance Wealth Advisors LLC’s holdings in Alphabet were worth $2,252,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of GOOGL. Live Oak Investment Partners purchased a new stake in shares of Alphabet during the 4th quarter valued at about $26,000. Armor Investment Advisors LLC purchased a new stake in shares of Alphabet during the 2nd quarter valued at about $28,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Alphabet during the 4th quarter valued at about $34,000. Turim 21 Investimentos Ltda. purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $38,000. Finally, IAG Wealth Partners LLC raised its holdings in shares of Alphabet by 100.0% during the 1st quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock valued at $41,000 after buying an additional 200 shares during the period. 35.08% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Alphabet
In other news, Director Ann Mather sold 220 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $121.75, for a total transaction of $26,785.00. Following the sale, the director now directly owns 4,759 shares of the company’s stock, valued at $579,408.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the transaction, the senior vice president now owns 75,621 shares in the company, valued at $10,119,602.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann Mather sold 220 shares of Alphabet stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $121.75, for a total value of $26,785.00. Following the transaction, the director now owns 4,759 shares in the company, valued at approximately $579,408.25. The disclosure for this sale can be found here. Insiders have sold 101,091 shares of company stock valued at $13,530,462 over the last three months. Company insiders own 0.88% of the company’s stock.
Alphabet Stock Down 1.2 %
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. The company had revenue of $74.60 billion for the quarter, compared to analyst estimates of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same period in the previous year, the firm earned $1.21 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 5.68 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. Jefferies Financial Group raised their target price on Alphabet from $150.00 to $165.00 in a report on Wednesday, July 26th. Wells Fargo & Company lifted their price objective on Alphabet from $121.00 to $126.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 10th. Wedbush began coverage on Alphabet in a report on Monday, August 21st. They set an “outperform” rating and a $160.00 price objective on the stock. Loop Capital lifted their price objective on Alphabet from $125.00 to $140.00 and gave the stock a “hold” rating in a report on Friday, August 18th. Finally, Mizuho lifted their target price on Alphabet from $135.00 to $155.00 in a research report on Wednesday, July 26th. Four investment 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $144.27.
Read Our Latest Research Report on GOOGL
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.
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