Stratos Wealth Partners LTD. Sells 4,116 Shares of Alphabet Inc. $GOOGL

Stratos Wealth Partners LTD. cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 307,067 shares of the information services provider’s stock after selling 4,116 shares during the quarter. Alphabet makes up about 0.7% of Stratos Wealth Partners LTD.’s holdings, making the stock its 23rd biggest holding. Stratos Wealth Partners LTD.’s holdings in Alphabet were worth $54,114,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. lifted its stake in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the period. IMA Advisory Services Inc. bought a new position in Alphabet during the 1st quarter valued at about $28,000. von Borstel & Associates Inc. bought a new position in Alphabet during the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC lifted its stake in 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 period. Finally, CarsonAllaria Wealth Management Ltd. lifted its stake in Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 67 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Bank of America upped their target price on shares of Alphabet from $252.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Royal Bank Of Canada increased their price objective on shares of Alphabet from $220.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 3rd. KeyCorp reiterated an “overweight” rating and issued a $300.00 price objective (up previously from $265.00) on shares of Alphabet in a research note on Monday. Susquehanna increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “positive” rating in a research note on Thursday, July 24th. Finally, Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $264.34.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s 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 transaction, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 246,150 shares of company stock valued at $55,805,379. 11.64% of the stock is owned by corporate insiders.

Alphabet Trading Up 3.6%

Shares of GOOGL opened at $269.27 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $270.14. The company has a 50 day simple moving average of $238.03 and a two-hundred day simple moving average of $196.63. The firm has a market cap of $3.26 trillion, a P/E ratio of 28.68, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00.

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.