Moss Adams Wealth Advisors LLC Has $5.89 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Moss Adams Wealth Advisors LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 17.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,534 shares of the information services provider’s stock after selling 7,740 shares during the period. Alphabet accounts for about 0.6% of Moss Adams Wealth Advisors LLC’s investment portfolio, making the stock its 19th largest position. Moss Adams Wealth Advisors LLC’s holdings in Alphabet were worth $5,893,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Accurate Wealth Management LLC raised its position in shares of Alphabet by 2.2% in the third quarter. Accurate Wealth Management LLC now owns 18,692 shares of the information services provider’s stock valued at $3,092,000 after purchasing an additional 397 shares during the period. Net Worth Advisory Group acquired a new stake in Alphabet during the third quarter worth $774,000. Kirr Marbach & Co. LLC IN lifted its stake in Alphabet by 0.3% during the third quarter. Kirr Marbach & Co. LLC IN now owns 91,394 shares of the information services provider’s stock worth $15,158,000 after purchasing an additional 312 shares during the period. Stratos Investment Management LLC grew its position in Alphabet by 6.3% in the third quarter. Stratos Investment Management LLC now owns 162,997 shares of the information services provider’s stock valued at $27,033,000 after acquiring an additional 9,696 shares during the period. Finally, Stratos Wealth Advisors LLC boosted its position in Alphabet by 2.0% in the third quarter. Stratos Wealth Advisors LLC now owns 69,788 shares of the information services provider’s stock valued at $11,574,000 after buying an additional 1,361 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 0.9 %

NASDAQ GOOGL opened at $166.72 on Tuesday. Alphabet Inc. has a fifty-two week low of $122.68 and a fifty-two week high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business has a fifty day moving average price of $161.95 and a two-hundred day moving average price of $168.65. The stock has a market capitalization of $2.06 trillion, a PE ratio of 25.57, a PEG ratio of 1.27 and a beta of 1.04.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,426 shares of company stock worth $35,993,340. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on GOOGL. Royal Bank of Canada increased their price objective on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. BMO Capital Markets reduced their price target on shares of Alphabet from $222.00 to $215.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a research report on Wednesday, July 24th. Bank of America raised their target price on shares of Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Wedbush reissued an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $201.76.

View Our Latest Report on Alphabet

About Alphabet

(Free Report)

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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