Alphabet Inc. $GOOGL Shares Sold by Goldstein Advisors LLC

Goldstein Advisors LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 39.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,946 shares of the information services provider’s stock after selling 5,248 shares during the quarter. Goldstein Advisors LLC’s holdings in Alphabet were worth $1,400,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Guardian Wealth Management Inc. boosted its position in shares of 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 acquiring an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new stake in Alphabet in the 1st quarter valued at about $28,000. IMA Advisory Services Inc. purchased a new stake in Alphabet in the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC raised its holdings in Alphabet by 85.7% in 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 period. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Alphabet in the 1st quarter valued at about $39,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 2.7%

Shares of NASDAQ:GOOGL opened at $274.57 on Thursday. 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 firm has a market capitalization of $3.32 trillion, a PE ratio of 29.24, a price-to-earnings-growth ratio of 1.81 and a beta of 1.00. The firm’s 50-day moving average is $240.86 and its two-hundred day moving average is $198.25. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $275.34.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping 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%. Analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GOOGL shares. Truist Financial boosted their price objective on shares of Alphabet from $225.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Moffett Nathanson boosted their price objective on shares of Alphabet from $230.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, September 25th. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Barclays boosted their price objective on shares of Alphabet from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Finally, BNP Paribas Exane boosted their price objective on shares of Alphabet from $187.00 to $247.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $266.69.

Insider Activity

In related news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the sale, the director directly owned 5,116 shares in the company, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 103 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director owned 17,284 shares in the company, valued at $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 246,150 shares of company stock valued at $55,805,379. 11.64% of the stock is owned by corporate insiders.

Alphabet Company 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.