Alphabet Inc. $GOOGL Shares Sold by Van Strum & Towne Inc.

Van Strum & Towne Inc. reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,850 shares of the information services provider’s stock after selling 337 shares during the quarter. Alphabet accounts for about 3.3% of Van Strum & Towne Inc.’s holdings, making the stock its 7th biggest position. Van Strum & Towne Inc.’s holdings in Alphabet were worth $10,371,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Missouri Trust & Investment Co boosted its holdings in Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after purchasing an additional 55 shares during the last quarter. AM Investment Strategies LLC boosted its holdings in Alphabet by 0.9% during the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after purchasing an additional 57 shares during the last quarter. Bfsg LLC boosted its holdings in Alphabet by 0.6% during the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after purchasing an additional 59 shares during the last quarter. Financial Council LLC boosted its holdings in Alphabet by 1.0% during the second quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock worth $1,022,000 after purchasing an additional 60 shares during the last quarter. Finally, Enzi Wealth boosted its holdings in Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock worth $408,000 after purchasing an additional 62 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Down 2.4%

Shares of GOOGL stock opened at $250.46 on Wednesday. The company’s fifty day simple moving average is $233.60 and its two-hundred day simple moving average is $193.31. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $257.33. The stock has a market capitalization of $3.03 trillion, a price-to-earnings ratio of 26.67, a PEG ratio of 1.74 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share 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 analysts’ expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Bank of America boosted their price target on shares of Alphabet from $252.00 to $280.00 and gave the stock a “buy” rating in a report on Monday. Truist Financial boosted their price target on shares of Alphabet from $225.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, October 14th. Cantor Fitzgerald boosted their target price on shares of Alphabet from $201.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, October 13th. Finally, JMP Securities boosted their target price on shares of Alphabet from $250.00 to $290.00 and gave the company a “market outperform” rating in a research note on Friday, September 19th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $257.60.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction 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 approximately $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 246,150 shares of company stock worth $55,805,379. 11.55% of the stock is owned by corporate insiders.

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