Smart Portfolios LLC Sells 400 Shares of Alphabet Inc. $GOOGL

Smart Portfolios LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 24.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,260 shares of the information services provider’s stock after selling 400 shares during the period. Smart Portfolios LLC’s holdings in Alphabet were worth $222,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. IFG Advisors LLC increased its holdings in Alphabet by 2.3% during the 2nd quarter. IFG Advisors LLC now owns 12,955 shares of the information services provider’s stock valued at $2,283,000 after purchasing an additional 295 shares during the period. Essex LLC boosted its position in shares of Alphabet by 5.8% in the 2nd quarter. Essex LLC now owns 25,412 shares of the information services provider’s stock worth $4,478,000 after purchasing an additional 1,395 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of Alphabet by 6.7% in the 2nd quarter. Ritholtz Wealth Management now owns 138,560 shares of the information services provider’s stock worth $24,418,000 after purchasing an additional 8,740 shares in the last quarter. SFG Wealth Management LLC. lifted its position in Alphabet by 5.8% in the 2nd quarter. SFG Wealth Management LLC. now owns 4,098 shares of the information services provider’s stock valued at $722,000 after acquiring an additional 225 shares in the last quarter. Finally, Triton Wealth Management PLLC purchased a new stake in Alphabet during the 2nd quarter valued at $835,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet 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 transaction, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. The trade was a 1.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the transaction, the director owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock worth $55,805,379 over the last quarter. Insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $259.92 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company’s fifty day simple moving average is $236.72 and its 200-day simple moving average is $195.60. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $261.68. The firm has a market cap of $3.14 trillion, a PE ratio of 27.68, a P/E/G ratio of 1.75 and a beta of 1.00.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wall Street Zen lowered Alphabet from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Citigroup lifted 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. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Cantor Fitzgerald boosted 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. Finally, Tigress Financial upped 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. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $263.55.

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.