Procyon Advisors LLC Has $1.11 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Procyon Advisors LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 34.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 507 shares of the information services provider’s stock after selling 268 shares during the quarter. Procyon Advisors LLC’s holdings in Alphabet were worth $1,110,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Vanguard Group Inc. lifted its stake in shares of Alphabet by 0.7% in the first quarter. Vanguard Group Inc. now owns 21,192,982 shares of the information services provider’s stock valued at $59,191,787,000 after buying an additional 157,098 shares during the period. BlackRock Inc. lifted its stake in shares of Alphabet by 1.1% in the fourth quarter. BlackRock Inc. now owns 19,196,177 shares of the information services provider’s stock valued at $55,545,866,000 after buying an additional 205,225 shares during the period. State Street Corp lifted its stake in shares of Alphabet by 0.6% in the fourth quarter. State Street Corp now owns 10,608,366 shares of the information services provider’s stock valued at $30,696,262,000 after buying an additional 58,955 shares during the period. Aaron Wealth Advisors LLC lifted its stake in shares of Alphabet by 492,443.2% in the first quarter. Aaron Wealth Advisors LLC now owns 6,476,943 shares of the information services provider’s stock valued at $2,319,000 after buying an additional 6,475,628 shares during the period. Finally, Capital World Investors lifted its stake in shares of Alphabet by 2.0% in the first quarter. Capital World Investors now owns 3,143,633 shares of the information services provider’s stock valued at $8,780,439,000 after buying an additional 62,329 shares during the period. 1.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GOOG. Piper Sandler reduced their target price on shares of Alphabet from $139.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, July 27th. Guggenheim cut their price target on shares of Alphabet to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. The Goldman Sachs Group set a $150.00 price target on shares of Alphabet in a research note on Wednesday, July 27th. Oppenheimer cut their price target on shares of Alphabet from $3,290.00 to $165.00 in a research note on Tuesday, July 19th. Finally, Credit Suisse Group set a $143.00 price target on shares of Alphabet in a research note on Tuesday, July 19th. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $158.05.

Insider Activity

In other news, Director Ann Mather sold 20 shares of the business’s stock in a transaction on Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the completion of the transaction, the director now owns 565 shares of the company’s stock, valued at approximately $1,346,575.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Amie Thuener O’toole sold 42 shares of the business’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total value of $91,003.08. Following the completion of the transaction, the chief accounting officer now owns 1,192 shares of the company’s stock, valued at approximately $2,582,754.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 20 shares of the business’s stock in a transaction on Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of the sale, 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 sold 44,536 shares of company stock valued at $15,729,998 in the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG opened at $103.85 on Tuesday. The company has a fifty day moving average price of $113.75 and a two-hundred day moving average price of $119.29. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. Alphabet Inc. has a 52 week low of $101.86 and a 52 week high of $152.10. The firm has a market capitalization of $1.35 trillion, a PE ratio of 19.32, a P/E/G ratio of 1.68 and a beta of 1.08.

Alphabet (NASDAQ:GOOGGet Rating) last released its earnings results on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. The business had revenue of $57.47 billion for the quarter, compared to analyst estimates of $57.55 billion. During the same period in the prior year, the firm posted $27.26 EPS. As a group, analysts anticipate that Alphabet Inc. will post 5.21 earnings per share for the current year.

Alphabet Company Profile

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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:GOOG)

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