Stratos Wealth Advisors LLC Trims Stake in Alphabet Inc. $GOOGL

Stratos Wealth Advisors LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 63,659 shares of the information services provider’s stock after selling 2,365 shares during the period. Stratos Wealth Advisors LLC’s holdings in Alphabet were worth $11,219,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GOOGL. Guardian Wealth Management Inc. increased its position in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares during the period. IMA Advisory Services Inc. acquired a new position in Alphabet during the 1st quarter worth approximately $28,000. von Borstel & Associates Inc. acquired a new position in Alphabet during the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC increased its position in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in shares of Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after acquiring an additional 67 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 3.6%

Shares of Alphabet stock opened at $269.27 on Tuesday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $270.14. The firm has a market cap of $3.26 trillion, a PE ratio of 28.68, a P/E/G ratio of 1.75 and a beta of 1.00. The business’s fifty day moving average is $238.03 and its two-hundred day moving average is $196.63. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the sale, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. This represents a 1.34% 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 valued at $55,805,379 in the last quarter. 11.64% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GOOGL shares. Oppenheimer boosted their price target on Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Moffett Nathanson boosted their price target on Alphabet from $230.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, September 25th. Wedbush boosted their price target on Alphabet from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday. Needham & Company LLC boosted their price target on Alphabet from $220.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Finally, Citizens Jmp boosted their price target on Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Four 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $264.34.

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.