Alphabet Inc. $GOOGL Shares Sold by LRI Investments LLC

LRI Investments LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,221 shares of the information services provider’s stock after selling 109 shares during the period. Alphabet makes up about 0.7% of LRI Investments LLC’s investment portfolio, making the stock its 26th biggest position. LRI Investments LLC’s holdings in Alphabet were worth $9,379,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of GOOGL. Guardian Wealth Management Inc. lifted its stake in 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 buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. purchased a new stake in Alphabet in the 1st quarter valued at approximately $28,000. IMA Advisory Services Inc. purchased a new stake in Alphabet in the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC lifted its stake in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Alphabet in the 1st quarter valued at approximately $39,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 246,150 shares of company stock valued at $55,805,379. 11.64% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GOOGL shares. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. HSBC started coverage on Alphabet in a research note on Tuesday, October 7th. They issued a “buy” rating and a $285.00 target price on the stock. Truist Financial upped their target price on Alphabet from $225.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. JMP Securities reissued a “market outperform” rating and set a $290.00 price target on shares of Alphabet in a research note on Wednesday. Finally, CIBC increased their price target on Alphabet to $315.00 in a research note on Monday. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $259.12.

Alphabet Trading Up 0.5%

Shares of GOOGL opened at $251.69 on Thursday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.04 trillion, a P/E ratio of 26.80, a price-to-earnings-growth ratio of 1.69 and a beta of 1.00. The stock’s fifty day simple moving average is $234.60 and its 200 day simple moving average is $193.72. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $257.33.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion for 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%. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

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.