Princeton Global Asset Management LLC Sells 2,372 Shares of Alphabet Inc. $GOOGL

Princeton Global Asset Management LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,796 shares of the information services provider’s stock after selling 2,372 shares during the quarter. Alphabet accounts for approximately 2.0% of Princeton Global Asset Management LLC’s portfolio, making the stock its 8th largest holding. Princeton Global Asset Management LLC’s holdings in Alphabet were worth $11,243,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Brighton Jones LLC increased its stake in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after acquiring an additional 506 shares during the period. Diversified Trust Co increased its stake in shares of Alphabet by 2.0% during the first quarter. Diversified Trust Co now owns 305,027 shares of the information services provider’s stock worth $47,169,000 after acquiring an additional 5,892 shares during the period. Victrix Investment Advisors boosted its holdings in Alphabet by 2.9% during the first quarter. Victrix Investment Advisors now owns 45,301 shares of the information services provider’s stock worth $6,849,000 after buying an additional 1,270 shares in the last quarter. Finally, Transcend Capital Advisors LLC boosted its holdings in Alphabet by 17.8% during the first quarter. Transcend Capital Advisors LLC now owns 63,325 shares of the information services provider’s stock worth $9,793,000 after buying an additional 9,549 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOGL opened at $281.48 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.40 trillion, a P/E ratio of 27.76, a PEG ratio of 1.86 and a beta of 1.00. The company has a 50-day moving average of $242.49 and a two-hundred day moving average of $198.83. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $291.59.

Alphabet (NASDAQ:GOOGL) last announced 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. The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on GOOGL. Wells Fargo & Company boosted their price objective on shares of Alphabet from $236.00 to $268.00 and gave the stock an “equal weight” rating in a report on Thursday. Bank of America boosted their price objective on shares of Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus set a $333.00 price objective on shares of Alphabet in a report on Thursday. DZ Bank reissued a “buy” rating on shares of Alphabet in a report on Thursday. Finally, Oppenheimer boosted their price objective on shares of Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Three analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $301.32.

Insider Activity

In other news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were 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 directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 246,150 shares of company stock valued at $55,805,379 over the last 90 days. 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.