Alphabet Inc. $GOOGL Shares Sold by Quotient Wealth Partners LLC

Quotient Wealth Partners LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,261 shares of the information services provider’s stock after selling 367 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Alphabet were worth $5,685,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Manchester Financial Inc. raised its holdings in shares of Alphabet by 38.9% in the second quarter. Manchester Financial Inc. now owns 3,891 shares of the information services provider’s stock worth $686,000 after acquiring an additional 1,089 shares during the last quarter. Koshinski Asset Management Inc. raised its holdings in shares of Alphabet by 1.0% in the second quarter. Koshinski Asset Management Inc. now owns 33,383 shares of the information services provider’s stock worth $5,883,000 after acquiring an additional 337 shares during the last quarter. Citizens Business Bank raised its holdings in shares of Alphabet by 1.7% in the second quarter. Citizens Business Bank now owns 31,995 shares of the information services provider’s stock worth $5,638,000 after acquiring an additional 540 shares during the last quarter. Curbstone Financial Management Corp raised its holdings in shares of Alphabet by 19.2% in the second quarter. Curbstone Financial Management Corp now owns 9,048 shares of the information services provider’s stock worth $1,594,000 after acquiring an additional 1,456 shares during the last quarter. Finally, Kanawha Capital Management LLC grew its position in shares of Alphabet by 1.1% in the second quarter. Kanawha Capital Management LLC now owns 158,850 shares of the information services provider’s stock valued at $27,994,000 after purchasing an additional 1,652 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 246,150 shares of company stock worth $55,805,379 over the last three months. Company insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Rosenblatt Securities boosted their price target on Alphabet from $191.00 to $224.00 and gave the company a “neutral” rating in a research report on Wednesday, September 3rd. Jefferies Financial Group boosted their price target on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Roth Capital increased their price target on Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Piper Sandler raised their target price on Alphabet from $220.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Finally, Mizuho set a $295.00 target price on Alphabet and gave the stock an “outperform” rating in a report on Monday, September 29th. Three 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $264.34.

Alphabet Trading Down 0.7%

Alphabet stock opened at $267.47 on Wednesday. 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 business’s 50-day simple moving average is $239.35 and its 200-day simple moving average is $197.43. The firm has a market capitalization of $3.23 trillion, a PE ratio of 28.48, a PEG ratio of 1.82 and a beta of 1.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $270.73.

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.