Alphabet Inc. $GOOGL Position Lowered by Stableford Capital II LLC

Stableford Capital II LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,725 shares of the information services provider’s stock after selling 911 shares during the quarter. Alphabet accounts for approximately 4.3% of Stableford Capital II LLC’s portfolio, making the stock its 4th largest holding. Stableford Capital II LLC’s holdings in Alphabet were worth $11,344,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GOOGL. Nuveen LLC purchased a new position in shares of Alphabet in the 1st quarter worth about $4,317,606,000. Vanguard Group Inc. raised its holdings in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Alphabet by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after purchasing an additional 4,473,901 shares during the period. Amundi raised its holdings in shares of Alphabet by 11.8% in the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after purchasing an additional 3,537,173 shares during the period. Finally, Evergreen Quality Fund GP Ltd. raised its holdings in shares of Alphabet by 178.3% in the 1st quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock worth $619,163,000 after purchasing an additional 2,565,400 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GOOGL shares. New Street Research raised their target price on Alphabet from $275.00 to $295.00 in a report on Friday. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. UBS Group reiterated a “neutral” rating on shares of Alphabet in a report on Wednesday, October 22nd. Jefferies Financial Group raised their target price on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Finally, Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Four equities research 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 company has an average rating of “Moderate Buy” and an average price target of $263.55.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $259.92 on Monday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $261.68. The business has a 50 day moving average price of $236.72 and a two-hundred day moving average price of $195.85. 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 firm has a market cap of $3.14 trillion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the transaction, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the transaction, the director owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock worth $55,805,379 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Alphabet Company 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.