Alphabet Inc. $GOOGL Shares Sold by Morris Financial Concepts Inc.

Morris Financial Concepts Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 7.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,604 shares of the information services provider’s stock after selling 200 shares during the quarter. Morris Financial Concepts Inc.’s holdings in Alphabet were worth $459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Brighton Jones LLC grew its stake in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares during the last quarter. BridgePort Financial Solutions LLC grew its stake in Alphabet by 2.0% during the 1st quarter. BridgePort Financial Solutions LLC now owns 7,996 shares of the information services provider’s stock valued at $1,237,000 after purchasing an additional 159 shares during the last quarter. Petros Family Wealth LLC grew its stake in Alphabet by 10.0% during the 1st quarter. Petros Family Wealth LLC now owns 4,744 shares of the information services provider’s stock valued at $734,000 after purchasing an additional 432 shares during the last quarter. Finally, LaFleur & Godfrey LLC boosted its stake in shares of Alphabet by 7.4% in the first quarter. LaFleur & Godfrey LLC now owns 18,746 shares of the information services provider’s stock worth $2,899,000 after buying an additional 1,298 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the 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 sale, the chief accounting officer owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frances Arnold sold 103 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 246,150 shares of company stock valued at $55,805,379. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

NASDAQ:GOOGL opened at $259.92 on Monday. Alphabet Inc. has a one year low of $140.53 and a one year high of $261.68. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock 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. The stock has a 50 day moving average price of $236.72 and a 200 day moving average price of $195.85.

Wall Street Analyst Weigh In

GOOGL has been the topic of several analyst reports. KeyCorp raised their target price on Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Bank of America increased their price target on Alphabet from $252.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Citigroup increased their price target on Alphabet from $225.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Oppenheimer increased their price target on Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Finally, Mizuho set a $295.00 price target on Alphabet and gave the stock an “outperform” rating in a research report on Monday, September 29th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $263.55.

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.