Alphabet Inc. $GOOGL Shares Sold by Deroy & Devereaux Private Investment Counsel Inc.

Deroy & Devereaux Private Investment Counsel Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,932 shares of the information services provider’s stock after selling 442 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Alphabet were worth $3,160,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Guardian Wealth Management Inc. increased its holdings in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in Alphabet during the 1st quarter worth $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet during the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC boosted its position in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet during the 1st quarter valued at about $39,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 2.7%

Shares of GOOGL stock opened at $259.92 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $261.68. The stock has a market cap of $3.14 trillion, a P/E ratio of 27.68, a P/E/G ratio of 1.75 and a beta of 1.00. The business has a fifty day simple moving average of $236.72 and a 200-day simple moving average of $195.60. 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 posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The firm 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%. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,242,778.72. This trade represents a 10.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock worth $55,805,379 in the last quarter. Corporate insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GOOGL shares. Roth Capital upped their target price on shares of Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Morgan Stanley set a $270.00 target price on shares of Alphabet and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Melius Research increased their price target on shares of Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Citigroup increased their price target on shares of Alphabet from $225.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Finally, DA Davidson increased their price objective on Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, September 2nd. Four investment 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $263.55.

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.