Moreno Evelyn V trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,885 shares of the information services provider’s stock after selling 414 shares during the quarter. Alphabet makes up 1.4% of Moreno Evelyn V’s portfolio, making the stock its 25th biggest holding. Moreno Evelyn V’s holdings in Alphabet were worth $6,689,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Conrad Siegel Investment Advisors Inc. lifted its holdings in shares of Alphabet by 9.1% in the second quarter. Conrad Siegel Investment Advisors Inc. now owns 8,358 shares of the information services provider’s stock valued at $1,000,000 after purchasing an additional 696 shares in the last quarter. James J. Burns & Company LLC grew its holdings in Alphabet by 1.9% during the 2nd quarter. James J. Burns & Company LLC now owns 16,630 shares of the information services provider’s stock valued at $1,990,000 after buying an additional 310 shares during the last quarter. Opal Wealth Advisors LLC increased its position in Alphabet by 24.2% during the second quarter. Opal Wealth Advisors LLC now owns 6,030 shares of the information services provider’s stock worth $722,000 after buying an additional 1,173 shares in the last quarter. Moody Lynn & Lieberson LLC raised its holdings in shares of Alphabet by 3.6% in the second quarter. Moody Lynn & Lieberson LLC now owns 386,000 shares of the information services provider’s stock worth $46,204,000 after acquiring an additional 13,559 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in shares of Alphabet by 8.0% in the second quarter. Pinnacle Associates Ltd. now owns 365,225 shares of the information services provider’s stock valued at $43,717,000 after acquiring an additional 27,005 shares in the last quarter. Institutional investors and hedge funds own 35.08% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. Robert W. Baird boosted their target price on shares of Alphabet from $123.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, July 21st. 51job reissued a “downgrade” rating on shares of Alphabet in a research report on Tuesday, June 27th. Bank of America raised their target price on shares of Alphabet from $142.00 to $146.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. KeyCorp boosted their price target on Alphabet from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, October 13th. Finally, JPMorgan Chase & Co. raised their price objective on Alphabet from $121.00 to $150.00 in a report on Wednesday, July 26th. Four analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $144.27.
Insider Buying and Selling at Alphabet
In related news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $133.82, for a total value of $2,152,227.06. Following the completion of the transaction, the senior vice president now directly owns 75,621 shares in the company, valued at $10,119,602.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $139.93, for a total transaction of $27,986.00. Following the sale, the director now directly owns 7,384 shares of the company’s stock, valued at $1,033,243.12. 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 dated 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 completion of the transaction, the senior vice president now owns 75,621 shares in the company, valued at $10,119,602.22. The disclosure for this sale can be found here. Insiders have sold 101,091 shares of company stock worth $13,530,462 in the last ninety days. 0.88% of the stock is owned by insiders.
Alphabet Trading Down 1.6 %
NASDAQ:GOOGL opened at $135.60 on Friday. The stock has a market cap of $1.71 trillion, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 1.58 and a beta of 1.06. Alphabet Inc. has a one year low of $83.34 and a one year high of $141.22. 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 business’s 50-day simple moving average is $134.28 and its 200 day simple moving average is $124.11.
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, beating analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The company had revenue of $74.60 billion for the quarter, compared to analyst estimates of $60.24 billion. During the same period in the prior year, the company posted $1.21 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.
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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