Baader Bank INC Sells 3,624 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Baader Bank INC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 14.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,211 shares of the information services provider’s stock after selling 3,624 shares during the period. Alphabet makes up about 4.9% of Baader Bank INC’s investment portfolio, making the stock its 2nd biggest position. Baader Bank INC’s holdings in Alphabet were worth $61,777,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Dravo Bay LLC acquired a new position in shares of Alphabet during the first quarter worth approximately $28,000. Financial Enhancement Group LLC bought a new stake in shares of Alphabet during the first quarter worth approximately $31,000. Wealthgate Family Office LLC bought a new stake in shares of Alphabet during the fourth quarter worth approximately $32,000. Verity Asset Management Inc. raised its stake in shares of Alphabet by 536,206.4% during the first quarter. Verity Asset Management Inc. now owns 589,937 shares of the information services provider’s stock worth $39,000 after buying an additional 589,827 shares during the last quarter. Finally, Greenspring Advisors LLC raised its stake in shares of Alphabet by 76.6% during the first quarter. Greenspring Advisors LLC now owns 491 shares of the information services provider’s stock worth $49,000 after buying an additional 213 shares during the last quarter. 1.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GOOGL. Jefferies Financial Group dropped their price target on shares of Alphabet from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, July 27th. Citigroup lowered their target price on shares of Alphabet from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 27th. Credit Suisse Group lowered their target price on shares of Alphabet from $143.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Wells Fargo & Company lowered their target price on shares of Alphabet from $170.00 to $160.00 and set an “overweight” rating for the company in a research note on Wednesday, July 27th. Finally, Guggenheim lowered their target price on shares of Alphabet to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Five 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $147.41.

Alphabet Price Performance

Shares of GOOGL opened at $104.32 on Wednesday. The firm has a market capitalization of $1.36 trillion, a PE ratio of 19.41, a PEG ratio of 1.79 and a beta of 1.09. The company’s 50-day moving average is $113.65 and its 200-day moving average is $119.36. Alphabet Inc. has a fifty-two week low of $101.88 and a fifty-two week high of $151.55. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.06). The company had revenue of $57.47 billion during the quarter, compared to the consensus estimate of $57.55 billion. Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same period in the previous year, the company earned $27.26 earnings per share. Equities analysts forecast that Alphabet Inc. will post 5.21 EPS for the current year.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 42 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total transaction of $91,003.08. Following the transaction, the chief accounting officer now directly owns 1,192 shares of the company’s stock, valued at $2,582,754.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 42 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total transaction of $91,003.08. Following the transaction, the chief accounting officer now directly owns 1,192 shares of the company’s stock, valued at $2,582,754.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 20 shares of the firm’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the transaction, the director now directly owns 565 shares in the company, valued at $1,346,575.80. The disclosure for this sale can be found here. Insiders have sold 44,536 shares of company stock valued at $15,729,998 over the last ninety days. 11.44% of the stock is currently owned by company insiders.

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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