Alphabet Inc. $GOOGL Shares Sold by Prostatis Group LLC

Prostatis Group LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 10.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,777 shares of the information services provider’s stock after selling 862 shares during the period. Prostatis Group LLC’s holdings in Alphabet were worth $1,371,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Commonwealth Financial Services LLC raised its holdings in shares of Alphabet by 14.8% in the 2nd quarter. Commonwealth Financial Services LLC now owns 9,975 shares of the information services provider’s stock worth $1,758,000 after purchasing an additional 1,289 shares in the last quarter. Valley Brook Capital Group Inc. raised its holdings in shares of Alphabet by 4.0% in the 2nd quarter. Valley Brook Capital Group Inc. now owns 4,843 shares of the information services provider’s stock worth $854,000 after purchasing an additional 185 shares in the last quarter. Advocate Group LLC bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $2,423,000. OFI Invest Asset Management raised its holdings in shares of Alphabet by 16.0% in the 2nd quarter. OFI Invest Asset Management now owns 1,274,775 shares of the information services provider’s stock worth $224,654,000 after purchasing an additional 176,206 shares in the last quarter. Finally, Ackerman Capital Advisors LLC raised its holdings in shares of Alphabet by 1.3% in the 2nd quarter. Ackerman Capital Advisors LLC now owns 8,914 shares of the information services provider’s stock worth $1,571,000 after purchasing an additional 114 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOGL opened at $251.69 on Thursday. The company’s fifty day moving average is $234.60 and its 200-day moving average is $193.72. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $257.33. The firm has a market cap of $3.04 trillion, a price-to-earnings ratio of 26.80, a price-to-earnings-growth ratio of 1.69 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last announced its quarterly 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. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GOOGL. BMO Capital Markets set a $294.00 target price on shares of Alphabet and gave the stock an “outperform” rating in a report on Thursday, October 9th. Needham & Company LLC boosted their target price on shares of Alphabet from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Tigress Financial boosted their price target on shares of Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a report on Friday, September 5th. CIBC boosted their price target on shares of Alphabet to $315.00 in a report on Monday. Finally, Sanford C. Bernstein boosted their price target on shares of Alphabet from $210.00 to $260.00 and gave the company a “market perform” rating in a report on Wednesday. Four research 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 a consensus rating of “Moderate Buy” and a consensus price target of $259.12.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 103 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director directly owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock worth $55,805,379 in the last quarter. 11.64% of the stock is owned by corporate 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.