Alphabet Inc. $GOOGL Position Reduced by Violich Capital Management Inc.

Violich Capital Management Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 312,563 shares of the information services provider’s stock after selling 22,420 shares during the period. Alphabet makes up about 7.8% of Violich Capital Management Inc.’s investment portfolio, making the stock its 3rd largest position. Violich Capital Management Inc.’s holdings in Alphabet were worth $55,083,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Missouri Trust & Investment Co grew its position in shares of Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after buying an additional 55 shares in the last quarter. AM Investment Strategies LLC boosted its holdings in Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after purchasing an additional 57 shares during the period. Bfsg LLC boosted its holdings in Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after purchasing an additional 59 shares during the period. Financial Council LLC boosted its holdings in shares of Alphabet by 1.0% during the second quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock valued at $1,022,000 after acquiring an additional 60 shares during the period. Finally, Enzi Wealth boosted its holdings in shares of Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after acquiring an additional 62 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $274.57 on Thursday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $275.34. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.32 trillion, a price-to-earnings ratio of 29.24, a PEG ratio of 1.81 and a beta of 1.00. The firm has a 50-day moving average of $240.86 and a two-hundred day moving average of $198.25.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

GOOGL has been the subject of several analyst reports. New Street Research boosted their price target on shares of Alphabet from $275.00 to $295.00 in a report on Friday, October 24th. Citigroup upped their price objective on shares of Alphabet from $225.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Truist Financial upped their price objective on shares of Alphabet from $225.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Wall Street Zen downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. 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 equities research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $266.69.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was 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 in the company, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s 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 sale, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 246,150 shares of company stock worth $55,805,379 in the last ninety days. Insiders own 11.64% of the company’s stock.

About Alphabet

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.