FLC Capital Advisors Sells 1,210 Shares of Alphabet Inc. $GOOGL

FLC Capital Advisors cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,019 shares of the information services provider’s stock after selling 1,210 shares during the period. Alphabet accounts for 1.0% of FLC Capital Advisors’ holdings, making the stock its 24th largest position. FLC Capital Advisors’ holdings in Alphabet were worth $4,938,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Missouri Trust & Investment Co increased its stake in Alphabet by 0.3% in the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after buying an additional 55 shares during the period. AM Investment Strategies LLC increased its position in shares of Alphabet by 0.9% during the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after acquiring an additional 57 shares during the period. Bfsg LLC increased its position in shares of Alphabet by 0.6% during the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after acquiring an additional 59 shares during the period. Financial Council LLC raised its stake in shares of Alphabet by 1.0% during the second quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock valued at $1,022,000 after acquiring an additional 60 shares in the last quarter. Finally, Enzi Wealth boosted its holdings in shares of Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, the chief accounting officer directly owned 14,516 shares in the company, valued at $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. 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 worth $55,805,379. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 2.5%

NASDAQ:GOOGL opened at $281.48 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $291.59. The stock has a market capitalization of $3.40 trillion, a P/E ratio of 27.76, a P/E/G ratio of 1.86 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company’s 50-day simple moving average is $242.49 and its 200-day simple moving average is $198.83.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data 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. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on GOOGL. New Street Research lifted their target price on Alphabet from $275.00 to $295.00 in a research report on Friday, October 24th. The Goldman Sachs Group lifted their price objective on Alphabet from $288.00 to $330.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley increased their target price on shares of Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday. Wolfe Research reissued an “outperform” rating and set a $350.00 target price (up previously from $290.00) on shares of Alphabet in a research report on Thursday. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $301.32.

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.