Berkeley Capital Partners LLC Lowers Position in Alphabet Inc. $GOOGL

Berkeley Capital Partners LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 7.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,247 shares of the information services provider’s stock after selling 658 shares during the period. Berkeley Capital Partners LLC’s holdings in Alphabet were worth $1,453,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in 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 in the last quarter. Harbour Trust & Investment Management Co raised its position in 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 purchasing an additional 80 shares in the last quarter. Cypress Capital LLC raised its position in 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 purchasing an additional 563 shares in the last quarter. Bridgeway Capital Management LLC raised its position in 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 purchasing an additional 13,371 shares in the last quarter. Finally, Alaethes Wealth LLC raised its position in Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 2.5%

NASDAQ GOOGL opened at $281.48 on Friday. The business’s 50-day moving average is $242.49 and its 200 day moving average is $198.83. 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 stock has a market capitalization of $3.40 trillion, a PE ratio of 27.76, a PEG ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $291.59.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data 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. The business had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GOOGL. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Oppenheimer raised their price target on Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Wall Street Zen downgraded Alphabet from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Westpark Capital raised their price target on Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, Robert W. Baird raised their price objective on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $301.32.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on 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 directly owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the sale, the director directly owned 5,116 shares in the company, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 246,150 shares of company stock worth $55,805,379. 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.