Northwest Capital Management Inc Lowers Stake in Alphabet Inc. $GOOGL

Northwest Capital Management Inc reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 51.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 667 shares of the information services provider’s stock after selling 713 shares during the quarter. Northwest Capital Management Inc’s holdings in Alphabet were worth $118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Heartland Bank & Trust Co lifted its stake in shares of Alphabet by 0.4% during the 2nd quarter. Heartland Bank & Trust Co now owns 45,267 shares of the information services provider’s stock valued at $7,977,000 after buying an additional 184 shares in the last quarter. NorthRock Partners LLC raised its holdings in Alphabet by 7.9% during the second quarter. NorthRock Partners LLC now owns 128,956 shares of the information services provider’s stock valued at $22,726,000 after acquiring an additional 9,393 shares during the period. Verdence Capital Advisors LLC raised its holdings in Alphabet by 3.0% during the second quarter. Verdence Capital Advisors LLC now owns 76,579 shares of the information services provider’s stock valued at $13,495,000 after acquiring an additional 2,244 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Alphabet by 9.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 432,033 shares of the information services provider’s stock valued at $76,137,000 after acquiring an additional 35,904 shares in the last quarter. Finally, Delaney Dennis R boosted its stake in shares of Alphabet by 1.6% in the second quarter. Delaney Dennis R now owns 50,371 shares of the information services provider’s stock worth $8,877,000 after acquiring an additional 785 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Tigress Financial lifted their target price on Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a research note on Friday, September 5th. Cantor Fitzgerald increased their price objective on shares of Alphabet from $201.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, October 13th. CIBC boosted their target price on shares of Alphabet to $315.00 in a report on Monday, October 20th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Alphabet in a research report on Wednesday, September 3rd. Finally, KeyCorp raised their target price on shares of Alphabet from $230.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Four analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $263.20.

Alphabet Trading Up 2.7%

Shares of GOOGL opened at $259.92 on Friday. The stock has a market capitalization of $3.14 trillion, a PE ratio of 27.68, a P/E/G ratio of 1.71 and a beta of 1.00. The company’s fifty day moving average is $236.72 and its 200 day moving average is $195.25. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $261.68.

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

Insider Activity

In related news, insider John Kent Walker sold 17,816 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the sale, the director directly owned 5,116 shares in the company, valued at $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 246,150 shares of company stock worth $55,805,379. 11.64% 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.