Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Trek Financial LLC

Trek Financial LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,530 shares of the information services provider’s stock after selling 3,968 shares during the quarter. Trek Financial LLC’s holdings in Alphabet were worth $4,007,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Alphabet in the first quarter valued at $314,000. Jmac Enterprises LLC grew its stake in shares of Alphabet by 6.0% in the first quarter. Jmac Enterprises LLC now owns 17,707 shares of the information services provider’s stock valued at $1,842,000 after buying an additional 1,005 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in Alphabet by 4.7% during the 1st quarter. Pinnacle Associates Ltd. now owns 392,090 shares of the information services provider’s stock worth $40,777,000 after purchasing an additional 17,471 shares in the last quarter. Meyer Handelman Co. grew its stake in Alphabet by 7.4% during the 1st quarter. Meyer Handelman Co. now owns 264,040 shares of the information services provider’s stock worth $27,460,000 after purchasing an additional 18,210 shares in the last quarter. Finally, Windward Capital Management Co. CA grew its stake in Alphabet by 2.1% during the 1st quarter. Windward Capital Management Co. CA now owns 317,199 shares of the information services provider’s stock worth $32,989,000 after purchasing an additional 6,615 shares in the last quarter. Institutional investors and hedge funds own 27.13% of the company’s stock.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total value of $1,934,945.73. Following the completion of the transaction, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 3,749 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the transaction, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at approximately $3,484,407.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total value of $1,934,945.73. Following the transaction, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The disclosure for this sale can be found here. Insiders sold 185,020 shares of company stock valued at $13,551,820 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.7 %

Alphabet stock opened at $137.20 on Friday. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $138.58. The stock has a 50 day moving average of $128.54 and a two-hundred day moving average of $116.49. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.73 trillion, a price-to-earnings ratio of 29.07, a PEG ratio of 1.56 and a beta of 1.06.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. The business had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 EPS. As a group, research analysts expect that Alphabet Inc. will post 5.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several analyst reports. Wedbush initiated coverage on Alphabet in a research note on Monday, August 21st. They set an “outperform” rating for the company. Robert W. Baird boosted their target price on Alphabet from $123.00 to $140.00 in a research note on Wednesday, July 26th. Susquehanna boosted their target price on Alphabet from $120.00 to $150.00 in a research note on Wednesday, July 26th. Finally, Oppenheimer boosted their target price on Alphabet from $145.00 to $160.00 in a research note on Wednesday, July 26th. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $130.94.

Alphabet Company Profile

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.