Alphabet Inc. $GOOGL is Novare Capital Management LLC’s 8th Largest Position

Novare Capital Management LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 175,023 shares of the information services provider’s stock after selling 1,189 shares during the period. Alphabet makes up about 2.5% of Novare Capital Management LLC’s holdings, making the stock its 8th biggest holding. Novare Capital Management LLC’s holdings in Alphabet were worth $30,844,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Guardian Wealth Management Inc. raised its holdings 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 buying an additional 119 shares during the last quarter. IMA Advisory Services Inc. bought a new stake in Alphabet during the 1st quarter valued at $28,000. von Borstel & Associates Inc. bought a new stake in Alphabet during the 1st quarter valued at $28,000. NBZ Investment Advisors LLC raised its holdings 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 buying an additional 90 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings 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 buying an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of Alphabet from $222.00 to $292.00 and gave the company a “buy” rating in a report on Friday, October 24th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a report on Monday. Cantor Fitzgerald upped their price objective on shares of Alphabet from $201.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, October 13th. The Goldman Sachs Group restated a “buy” rating and issued a $288.00 price objective on shares of Alphabet in a report on Tuesday, October 14th. Finally, Mizuho set a $295.00 price objective on shares of Alphabet and gave the stock an “outperform” rating in a report on Monday, September 29th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $264.34.

Alphabet Stock Down 0.7%

Shares of Alphabet stock opened at $267.47 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a 50-day moving average of $239.35 and a 200 day moving average of $197.43. The firm has a market cap of $3.23 trillion, a price-to-earnings ratio of 28.48, a PEG ratio of 1.82 and a beta of 1.00. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $270.73.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares in the company, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 246,150 shares of company stock worth $55,805,379 in the last 90 days. Insiders own 11.55% of the company’s stock.

Alphabet 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.