RWQ Financial Management Services Inc. Sells 3,310 Shares of Alphabet Inc. $GOOGL

RWQ Financial Management Services Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,565 shares of the information services provider’s stock after selling 3,310 shares during the period. Alphabet accounts for approximately 4.0% of RWQ Financial Management Services Inc.’s portfolio, making the stock its 12th largest holding. RWQ Financial Management Services Inc.’s holdings in Alphabet were worth $9,616,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares during the period. Invesco Ltd. lifted its stake in Alphabet by 1.4% in the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after acquiring an additional 593,345 shares during the period. Deutsche Bank AG lifted its position in Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after buying an additional 727,335 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Alphabet by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock valued at $5,962,389,000 after buying an additional 104,859 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on GOOGL. Royal Bank Of Canada raised their price objective on Alphabet from $220.00 to $260.00 and gave the company an “outperform” rating in a research report on Wednesday, September 3rd. Piper Sandler raised their price objective on Alphabet from $220.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Bank of America raised their price target on Alphabet from $252.00 to $280.00 and gave the company a “buy” rating in a report on Monday, October 20th. Sanford C. Bernstein raised their price target on Alphabet from $210.00 to $260.00 and gave the company a “market perform” rating in a report on Wednesday, October 22nd. Finally, Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Three analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $264.34.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% 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 three months. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

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

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.