Mezzasalma Advisors LLC Cuts Stock Position in Alphabet Inc. $GOOGL

Mezzasalma Advisors LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,934 shares of the information services provider’s stock after selling 236 shares during the quarter. Alphabet makes up approximately 4.8% of Mezzasalma Advisors LLC’s holdings, making the stock its 5th largest position. Mezzasalma Advisors LLC’s holdings in Alphabet were worth $15,849,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Guardian Wealth Management Inc. lifted its holdings in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in shares of Alphabet during the first quarter valued at approximately $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet during the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC lifted its holdings in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet during the first quarter valued at approximately $39,000. 40.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 246,150 shares of company stock valued at $55,805,379. Insiders own 11.64% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $274.57 on Thursday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $275.34. The company has a market capitalization of $3.32 trillion, a P/E ratio of 29.24, a price-to-earnings-growth ratio of 1.81 and a beta of 1.00. The firm has a 50 day moving average of $240.86 and a 200 day moving average of $198.25.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate 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, equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GOOGL. Citigroup lifted their target price on shares of Alphabet from $225.00 to $280.00 and gave the company a “buy” rating in a report on Monday, September 15th. Oppenheimer lifted their target price on shares of Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Sanford C. Bernstein lifted their target price on shares of Alphabet from $210.00 to $260.00 and gave the company a “market perform” rating in a report on Wednesday, October 22nd. Cantor Fitzgerald raised their price target on shares of Alphabet from $201.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $288.00 price target on shares of Alphabet in a research report on Tuesday, October 14th. Three research 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’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $266.69.

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.