Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Asset Advisors Investment Management LLC

Asset Advisors Investment Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 125,819 shares of the information services provider’s stock after selling 2,185 shares during the quarter. Alphabet accounts for approximately 2.0% of Asset Advisors Investment Management LLC’s holdings, making the stock its 17th biggest position. Asset Advisors Investment Management LLC’s holdings in Alphabet were worth $19,457,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of GOOGL. von Borstel & Associates Inc. purchased a new position in Alphabet in the first quarter worth $28,000. Financial Gravity Asset Management Inc. purchased a new position in Alphabet in the first quarter worth $39,000. Anderson Financial Strategies LLC purchased a new position in Alphabet in the fourth quarter worth $49,000. Navigoe LLC purchased a new position in Alphabet in the fourth quarter worth $51,000. Finally, Elite Financial Inc. purchased a new position in Alphabet in the first quarter worth $42,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on Alphabet from $200.00 to $232.00 and gave the stock an “overweight” rating in a research report on Thursday. KeyCorp increased their price objective on Alphabet from $215.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday. Mizuho cut their price objective on Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Cantor Fitzgerald increased their price objective on Alphabet from $196.00 to $201.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Roth Capital raised their price target on Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.32.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 400 shares of Alphabet stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the transaction, the director directly owned 6,013 shares of the company’s stock, valued at $1,094,245.74. The trade was a 6.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 249,409 shares of company stock worth $43,523,710 in the last 90 days. 11.64% of the stock is owned by company insiders.

Alphabet Stock Up 1.0%

GOOGL opened at $192.17 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market capitalization of $2.33 trillion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00. The business has a 50-day moving average of $175.23 and a two-hundred day moving average of $173.10. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 35.22% and a net margin of 31.12%. During the same quarter in the previous year, the business earned $1.89 EPS. On average, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

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