Tranquility Partners LLC Sells 964 Shares of Alphabet Inc. $GOOGL

Tranquility Partners LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,889 shares of the information services provider’s stock after selling 964 shares during the quarter. Alphabet comprises approximately 1.4% of Tranquility Partners LLC’s holdings, making the stock its 15th largest holding. Tranquility Partners LLC’s holdings in Alphabet were worth $3,858,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Concurrent Investment Advisors LLC lifted its stake in Alphabet by 8.1% in the second quarter. Concurrent Investment Advisors LLC now owns 226,683 shares of the information services provider’s stock worth $39,948,000 after purchasing an additional 17,072 shares during the last quarter. Cerro Pacific Wealth Advisors LLC grew its stake in shares of Alphabet by 6.9% during the second quarter. Cerro Pacific Wealth Advisors LLC now owns 12,910 shares of the information services provider’s stock valued at $2,275,000 after buying an additional 833 shares during the last quarter. Johnson Investment Counsel Inc. raised its holdings in shares of Alphabet by 0.6% in the second quarter. Johnson Investment Counsel Inc. now owns 1,240,320 shares of the information services provider’s stock worth $218,582,000 after buying an additional 7,822 shares during the period. waypoint wealth counsel lifted its stake in shares of Alphabet by 13.4% during the 2nd quarter. waypoint wealth counsel now owns 7,668 shares of the information services provider’s stock worth $1,351,000 after acquiring an additional 905 shares during the last quarter. Finally, Investment Advisory Group LLC boosted its holdings in Alphabet by 10.4% during the 2nd quarter. Investment Advisory Group LLC now owns 6,279 shares of the information services provider’s stock valued at $1,106,000 after acquiring an additional 593 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $250.46 on Wednesday. The company has a market cap of $3.03 trillion, a P/E ratio of 26.67, a PEG ratio of 1.74 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock’s 50-day moving average is $233.60 and its 200 day moving average is $193.31. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $257.33.

Alphabet (NASDAQ:GOOGL) last issued 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 firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Melius Research lifted their price target on shares of Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Moffett Nathanson boosted their price target on Alphabet from $230.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, September 25th. KeyCorp raised their price objective on Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Finally, Wells Fargo & Company set a $236.00 target price on Alphabet and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.60.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the transaction, the director owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, the chief accounting officer owned 14,516 shares of the company’s stock, valued at $3,629,725.80. The trade was a 16.06% 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 in the last 90 days. 11.55% of the stock is owned by insiders.

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.