Forvis Mazars Wealth Advisors LLC Sells 311 Shares of Alphabet Inc. $GOOGL

Forvis Mazars Wealth Advisors LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,138 shares of the information services provider’s stock after selling 311 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Alphabet were worth $16,414,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Mystic Asset Management Inc. raised its position in Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after purchasing an additional 1,791 shares during the period. Harbour Trust & Investment Management Co grew its stake in shares of Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock valued at $4,187,000 after buying an additional 80 shares during the last quarter. Cypress Capital LLC grew its stake in shares of Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after buying an additional 563 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in shares of Alphabet by 17.9% during the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after buying an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC grew its stake in Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GOOGL shares. New Street Research increased their price objective on Alphabet from $275.00 to $295.00 in a research note on Friday, October 24th. Jefferies Financial Group increased their price objective on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Sanford C. Bernstein increased their price objective on Alphabet from $210.00 to $260.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 22nd. CIBC increased their price objective on Alphabet to $315.00 in a research note on Monday, October 20th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Alphabet in a report on Wednesday, September 3rd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $266.69.

Alphabet Stock Performance

Shares of GOOGL stock opened at $274.57 on Thursday. The firm has a market capitalization of $3.32 trillion, a price-to-earnings ratio of 29.24, a price-to-earnings-growth ratio of 1.81 and a beta of 1.00. 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 business has a fifty day moving average of $240.86 and a 200 day moving average of $198.25. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $275.34.

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

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Monday, October 13th. The stock was 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 of the company’s stock, valued at approximately $1,242,778.72. This trade represents a 10.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. 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 three months. Company 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.