Strengthening Families & Communities LLC Cuts Holdings in Alphabet Inc. $GOOGL

Strengthening Families & Communities LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,538 shares of the information services provider’s stock after selling 2,717 shares during the quarter. Alphabet accounts for approximately 3.7% of Strengthening Families & Communities LLC’s portfolio, making the stock its 6th largest position. Strengthening Families & Communities LLC’s holdings in Alphabet were worth $6,777,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Nuveen LLC bought a new stake in Alphabet during the 1st quarter worth approximately $4,317,606,000. Vanguard Group Inc. boosted its position in shares of Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after buying an additional 4,473,901 shares in the last quarter. Amundi lifted its stake in Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock valued at $5,034,992,000 after acquiring an additional 3,537,173 shares in the last quarter. Finally, Evergreen Quality Fund GP Ltd. boosted its holdings in Alphabet by 178.3% during the 1st quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock worth $619,163,000 after acquiring an additional 2,565,400 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GOOGL shares. The Goldman Sachs Group restated a “buy” rating and issued a $288.00 target price on shares of Alphabet in a research note on Tuesday, October 14th. Tigress Financial lifted their price target on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a report on Friday, September 5th. Westpark Capital boosted their price objective on Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Piper Sandler upped their price objective on Alphabet from $220.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Finally, CIBC raised their target price on Alphabet to $315.00 in a research report on Monday. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $255.86.

Alphabet Stock Up 1.3%

Shares of NASDAQ GOOGL opened at $256.55 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.10 trillion, a P/E ratio of 27.32, a P/E/G ratio of 1.71 and a beta of 1.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $257.33. The business has a 50-day simple moving average of $232.66 and a two-hundred day simple moving average of $192.92.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock worth $55,805,379 over the last ninety days. Insiders own 11.55% of the company’s stock.

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.