Alapocas Investment Partners Inc. Sells 1,500 Shares of Alphabet Inc. $GOOGL

Alapocas Investment Partners Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 27.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,900 shares of the information services provider’s stock after selling 1,500 shares during the period. Alphabet makes up 0.4% of Alapocas Investment Partners Inc.’s holdings, making the stock its 20th largest position. Alapocas Investment Partners Inc.’s holdings in Alphabet were worth $687,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Guardian Wealth Management Inc. increased its position in shares of Alphabet by 242.9% in 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. bought a new stake in shares of Alphabet in the 1st quarter valued at $28,000. IMA Advisory Services Inc. bought a new stake in shares of Alphabet in the 1st quarter valued at $28,000. NBZ Investment Advisors LLC increased its position in shares of 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 buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Alphabet in the 1st quarter valued at $39,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 0.1%

Alphabet stock opened at $281.31 on Friday. The firm has a 50-day moving average of $244.00 and a 200-day moving average of $199.68. Alphabet Inc. has a one year low of $140.53 and a one year high of $291.59. 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 company has a market cap of $3.40 trillion, a price-to-earnings ratio of 27.74, a P/E/G ratio of 1.86 and a beta of 1.00.

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 analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. On average, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Piper Sandler restated an “overweight” rating and issued a $330.00 price objective (up previously from $285.00) on shares of Alphabet in a research report on Thursday. Wells Fargo & Company upped their price objective on shares of Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a research report on Thursday. Susquehanna upped their target price on shares of Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a research note on Thursday. BMO Capital Markets set a $294.00 target price on shares of Alphabet and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Finally, Citigroup reaffirmed a “buy” rating and issued a $343.00 target price (up from $280.00) on shares of Alphabet in a research note on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $301.98.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the sale, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. This represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 246,150 shares of company stock worth $55,805,379 in the last three months. 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.