Grandview Asset Management LLC Trims Stake in Alphabet Inc. (NASDAQ:GOOGL)

Grandview Asset Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 10.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 984 shares of the information services provider’s stock after selling 109 shares during the quarter. Alphabet comprises about 1.2% of Grandview Asset Management LLC’s holdings, making the stock its 20th largest position. Grandview Asset Management LLC’s holdings in Alphabet were worth $2,144,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOOGL. Dravo Bay LLC purchased a new position in shares of Alphabet in the 1st quarter worth about $28,000. Financial Enhancement Group LLC purchased a new stake in Alphabet during the 1st quarter valued at about $31,000. Wealthgate Family Office LLC purchased a new stake in Alphabet during the 4th quarter valued at about $32,000. Verity Asset Management Inc. boosted its holdings in Alphabet by 536,206.4% during the 1st quarter. Verity Asset Management Inc. now owns 589,937 shares of the information services provider’s stock valued at $39,000 after acquiring an additional 589,827 shares during the period. Finally, Advocacy Wealth Management Services LLC boosted its holdings in Alphabet by 72.7% during the 2nd quarter. Advocacy Wealth Management Services LLC now owns 19 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 8 shares during the period. 1.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, Director Ann Mather sold 20 shares of the firm’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the transaction, the director now directly owns 565 shares in the company, valued at approximately $1,346,575.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $110.00, for a total value of $165,000.00. Following the transaction, the director now directly owns 33,260 shares in the company, valued at approximately $3,658,600. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ann Mather sold 20 shares of the firm’s stock in a transaction on Monday, June 27th. The stock was 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 directly owns 565 shares in the company, valued at $1,346,575.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,536 shares of company stock worth $15,729,998. Insiders own 11.44% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several analyst reports. BNP Paribas cut Alphabet from an “outperform” rating to a “neutral” rating and set a $118.00 target price for the company. in a report on Wednesday, July 20th. KeyCorp dropped their target price on Alphabet from $153.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, July 26th. Wells Fargo & Company dropped their target price on Alphabet from $170.00 to $160.00 and set an “overweight” rating for the company in a report on Wednesday, July 27th. JMP Securities lowered their price target on Alphabet from $165.00 to $160.00 and set a “market outperform” rating for the company in a research report on Thursday, June 30th. Finally, Barclays lowered their price target on Alphabet from $160.00 to $150.00 and set an “overweight” rating for the company in a research report on Tuesday, July 5th. Five research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $147.41.

Alphabet Stock Performance

Shares of GOOGL opened at $101.14 on Wednesday. The business’s fifty day simple moving average is $112.60 and its two-hundred day simple moving average is $118.51. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12 month low of $100.52 and a 12 month high of $151.55. The company has a market cap of $1.32 trillion, a price-to-earnings ratio of 18.82, a P/E/G ratio of 1.66 and a beta of 1.09.

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

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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