Sustainable Growth Advisers LP Sells 2,584 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sustainable Growth Advisers LP lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 12.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,925 shares of the information services provider’s stock after selling 2,584 shares during the quarter. Sustainable Growth Advisers LP’s holdings in Alphabet were worth $2,265,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Live Oak Investment Partners acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $26,000. Armor Investment Advisors LLC bought a new stake in Alphabet during the 2nd quarter worth approximately $28,000. CarsonAllaria Wealth Management Ltd. increased its holdings in Alphabet by 136.7% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 284 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 164 shares in the last quarter. Sanctuary Wealth Management L.L.C. bought a new position in Alphabet in the 4th quarter valued at $34,000. Finally, Turim 21 Investimentos Ltda. acquired a new position in Alphabet in the third quarter worth $38,000. Institutional investors and hedge funds own 35.08% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, Director Ann Mather sold 220 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $130.14, for a total transaction of $28,630.80. Following the transaction, the director now owns 4,818 shares of the company’s stock, valued at approximately $627,014.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Frances Arnold sold 250 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $124.36, for a total value of $31,090.00. Following the completion of the sale, the director now directly owns 14,226 shares in the company, valued at approximately $1,769,145.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann Mather sold 220 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $130.14, for a total value of $28,630.80. Following the completion of the sale, the director now owns 4,818 shares in the company, valued at approximately $627,014.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 176,576 shares of company stock valued at $23,425,367. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research analyst reports. Barclays cut their price target on Alphabet from $200.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, October 25th. Piper Sandler upped their target price on shares of Alphabet from $147.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 25th. Jefferies Financial Group raised their price target on shares of Alphabet from $150.00 to $165.00 in a report on Wednesday, July 26th. JPMorgan Chase & Co. upped their price objective on Alphabet from $121.00 to $150.00 in a report on Wednesday, July 26th. Finally, Bank of America lifted their target price on Alphabet from $142.00 to $146.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Five investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $147.00.

Alphabet Stock Performance

Shares of GOOGL stock opened at $135.31 on Monday. The firm has a market cap of $1.69 trillion, a PE ratio of 25.97, a P/E/G ratio of 1.51 and a beta of 1.05. Alphabet Inc. has a 12 month low of $84.86 and a 12 month high of $141.22. The company’s fifty day simple moving average is $133.44 and its 200-day simple moving average is $127.65. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 24th. The information services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.45 by $0.10. The firm had revenue of $64.05 billion for the quarter, compared to analysts’ expectations of $63.13 billion. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. Equities research analysts expect that Alphabet Inc. will post 5.74 EPS for the current fiscal year.

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.