Demars Financial Group LLC Decreases Stock Holdings in Alphabet Inc. $GOOGL

Demars Financial Group LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 99.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,168 shares of the information services provider’s stock after selling 434,154 shares during the period. Demars Financial Group LLC’s holdings in Alphabet were worth $558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GOOGL. Guardian Wealth Management Inc. lifted 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 buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. purchased a new position in shares of Alphabet during the 1st quarter valued at approximately $28,000. IMA Advisory Services Inc. purchased a new position in Alphabet in the 1st quarter valued at $28,000. NBZ Investment Advisors LLC lifted 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 purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet in the 1st quarter valued at $39,000. 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. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $291.59. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is $242.49 and its 200-day simple moving average is $198.83. The firm has a market cap of $3.40 trillion, a PE ratio of 27.76, a P/E/G ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research reports. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Citizens Jmp raised their price objective on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Oppenheimer raised their price objective on Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Barclays restated an “overweight” rating and issued a $315.00 price objective (up previously from $250.00) on shares of Alphabet in a report on Thursday. Finally, Melius Research raised their price objective on Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $301.32.

Insider Activity

In related news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Monday, October 13th. The stock was 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 of the company’s stock, valued at $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 246,150 shares of company stock worth $55,805,379. 11.64% of the stock is currently owned by corporate insiders.

Alphabet 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.