Alphabet Inc. $GOOGL Shares Sold by Kondo Wealth Advisors Inc.

Kondo Wealth Advisors Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 6.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,890 shares of the information services provider’s stock after selling 134 shares during the period. Kondo Wealth Advisors Inc.’s holdings in Alphabet were worth $332,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. increased its holdings in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the first quarter valued at $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet during the first quarter valued at $28,000. NBZ Investment Advisors LLC increased its holdings in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet during the first quarter valued at $39,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, September 17th. The stock was 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 in the company, valued at $598,149,304. This represents a 1.34% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 246,150 shares of company stock valued at $55,805,379. 11.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GOOGL. Citigroup raised their price target on Alphabet from $225.00 to $280.00 and gave the company a “buy” rating in a report on Monday, September 15th. Oppenheimer lifted their target price on Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Truist Financial lifted their target price on Alphabet from $225.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Melius Research lifted their target price on Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. Finally, Wells Fargo & Company set a $236.00 target price on Alphabet and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Three equities research 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $264.34.

Alphabet Trading Down 0.7%

Shares of GOOGL opened at $267.47 on Wednesday. The business’s 50-day moving average price is $239.35 and its 200 day moving average price is $197.43. The stock has a market capitalization of $3.23 trillion, a P/E ratio of 28.48, a P/E/G 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. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

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.