Davis Rea LTD. Sells 4,647 Shares of Alphabet Inc. $GOOGL

Davis Rea LTD. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 156,780 shares of the information services provider’s stock after selling 4,647 shares during the quarter. Alphabet makes up about 6.9% of Davis Rea LTD.’s investment portfolio, making the stock its 2nd largest position. Davis Rea LTD.’s holdings in Alphabet were worth $27,629,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. increased its stake in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the last quarter. von Borstel & Associates Inc. acquired a new position in Alphabet during the first quarter valued at approximately $28,000. IMA Advisory Services Inc. bought a new stake in Alphabet in the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC increased its stake in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet in the first quarter worth $39,000. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, the chief accounting officer directly owned 14,516 shares in the company, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 246,150 shares of company stock worth $55,805,379 in the last three months. Insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wells Fargo & Company set a $236.00 price objective on shares of Alphabet and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. JMP Securities increased their price target on Alphabet from $250.00 to $290.00 and gave the stock a “market outperform” rating in a report on Friday, September 19th. Tigress Financial raised their price target on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research report on Friday, September 5th. Finally, Cantor Fitzgerald boosted their price objective on Alphabet from $201.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $255.86.

Alphabet Stock Up 1.3%

Shares of GOOGL stock opened at $256.55 on Tuesday. The firm’s fifty day moving average price is $232.66 and its two-hundred day moving average price is $192.92. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $257.33. The firm has a market capitalization of $3.10 trillion, a P/E ratio of 27.32, a PEG ratio of 1.71 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

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