TownSquare Capital LLC Sells 7,767 Shares of Alphabet Inc. (NASDAQ:GOOGL)

TownSquare Capital LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 42.3% during the first quarter, HoldingsChannel reports. The firm owned 10,577 shares of the information services provider’s stock after selling 7,767 shares during the quarter. TownSquare Capital LLC’s holdings in Alphabet were worth $29,419,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bay Rivers Group increased its position in Alphabet by 5.9% during the first quarter. Bay Rivers Group now owns 1,418 shares of the information services provider’s stock worth $3,944,000 after acquiring an additional 79 shares during the period. Pinnacle Wealth Management Group Inc. increased its position in Alphabet by 2.6% during the first quarter. Pinnacle Wealth Management Group Inc. now owns 390 shares of the information services provider’s stock worth $1,085,000 after acquiring an additional 10 shares during the period. Ameliora Wealth Management Ltd. bought a new position in Alphabet during the first quarter worth $545,000. Nvest Financial LLC bought a new position in Alphabet during the first quarter worth $1,722,000. Finally, United Capital Management of KS Inc. increased its position in Alphabet by 3.4% during the first quarter. United Capital Management of KS Inc. now owns 2,589 shares of the information services provider’s stock worth $7,201,000 after acquiring an additional 86 shares during the period. Institutional investors own 41.70% of the company’s stock.

Insider Activity

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 255,647 shares of the stock in a transaction that occurred on Tuesday, May 10th. The stock was acquired at an average cost of $34.65 per share, with a total value of $8,858,168.55. Following the purchase, the insider now owns 479,695 shares in the company, valued at $16,621,431.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 255,647 shares of the stock in a transaction that occurred on Tuesday, May 10th. The stock was acquired at an average cost of $34.65 per share, with a total value of $8,858,168.55. Following the purchase, the insider now owns 479,695 shares in the company, valued at $16,621,431.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 75 shares of the stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $2,337.13, for a total value of $175,284.75. Following the sale, the director now directly owns 233 shares of the company’s stock, valued at $544,551.29. The disclosure for this sale can be found here. Insiders sold a total of 5,739 shares of company stock valued at $12,616,323 in the last ninety days. 11.44% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of GOOGL stock opened at $113.90 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.87 and a quick ratio of 2.85. The stock has a market cap of $75.00 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10. The stock has a 50-day moving average of $154.72 and a 200-day moving average of $140.14. Alphabet Inc. has a one year low of $101.88 and a one year high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its quarterly earnings results on Tuesday, April 26th. The information services provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.05). The company had revenue of $56.02 billion during the quarter, compared to the consensus estimate of $56.17 billion. Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same period last year, the company earned $1.31 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 5.47 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus set a $155.00 target price on shares of Alphabet in a research report on Monday. Canaccord Genuity Group lowered their price target on shares of Alphabet from $175.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, April 27th. StockNews.com lowered shares of Alphabet from a “buy” rating to a “hold” rating in a report on Friday, April 29th. Mizuho lowered their price target on shares of Alphabet from $180.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, April 27th. Finally, Jefferies Financial Group lowered their price target on shares of Alphabet from $170.00 to $155.00 in a report on Tuesday, May 24th. Three research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $159.02.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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