Alphabet Inc. (NASDAQ:GOOGL) Stock Position Reduced by Resources Management Corp CT ADV

Resources Management Corp CT ADV cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 98.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,006 shares of the information services provider’s stock after selling 85,559 shares during the period. Resources Management Corp CT ADV’s holdings in Alphabet were worth $72,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. DC Investments Management LLC acquired a new position in Alphabet during the first quarter worth $114,000. Bridgefront Capital LLC bought a new stake in Alphabet during the first quarter worth approximately $225,000. Worth Asset Management LLC bought a new stake in Alphabet during the first quarter worth approximately $206,000. Eudaimonia Advisors LLC boosted its position in Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after purchasing an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC bought a new stake in Alphabet during the first quarter worth approximately $281,000. 35.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $131.14, for a total value of $26,228.00. Following the transaction, the director now owns 5,340 shares of the company’s stock, valued at $700,287.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $131.14, for a total value of $26,228.00. Following the completion of the sale, the director now owns 5,340 shares of the company’s stock, valued at $700,287.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 9,540 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $125.33, for a total transaction of $1,195,648.20. Following the completion of the sale, the director now directly owns 2,800 shares of the company’s stock, valued at approximately $350,924. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 163,353 shares of company stock valued at $8,576,028. 0.88% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of GOOGL stock opened at $135.88 on Thursday. The stock has a 50-day moving average price of $125.77 and a 200 day moving average price of $114.05. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.71 trillion, a price-to-earnings ratio of 28.79, a PEG ratio of 1.51 and a beta of 1.06. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $136.57.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data 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 net margin of 21.05% and a return on equity of 23.49%. The firm had revenue of $74.60 billion for the quarter, compared to analysts’ expectations of $60.24 billion. During the same period last year, the firm earned $1.21 earnings per share. Research analysts expect that Alphabet Inc. will post 5.68 EPS for the current year.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research analyst reports. Piper Sandler boosted their target price on shares of Alphabet from $140.00 to $148.00 in a research report on Wednesday, July 26th. Evercore ISI lifted their price target on Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 26th. KeyCorp lifted their price target on Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 26th. Wolfe Research lifted their price target on Alphabet from $130.00 to $140.00 in a research report on Monday, July 10th. Finally, StockNews.com began coverage on shares of Alphabet in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Four analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.08.

About Alphabet

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.