Alphabet Inc. $GOOGL Shares Sold by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 12.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,926 shares of the information services provider’s stock after selling 277 shares during the period. Stephens Investment Management Group LLC’s holdings in Alphabet were worth $339,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Mystic Asset Management Inc. increased its holdings in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after acquiring an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co increased its holdings in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock valued at $4,187,000 after acquiring an additional 80 shares during the last quarter. Cypress Capital LLC increased its holdings in shares of Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after acquiring an additional 563 shares during the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after acquiring an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC increased its holdings in shares of Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after acquiring an additional 84 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. This trade represents a 1.34% 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 have sold 246,150 shares of company stock worth $55,805,379. 11.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent analyst reports. Oppenheimer increased 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. Evercore ISI increased their price objective on Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday. Westpark Capital increased their price objective on Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, July 24th. The Goldman Sachs Group raised their price target on Alphabet from $288.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Bank of America raised their price target on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday. Three analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $302.20.

Alphabet Trading Down 0.1%

Shares of GOOGL stock opened at $281.31 on Friday. The business’s 50 day moving average is $244.00 and its two-hundred day moving average is $199.98. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $291.59. The company has a market capitalization of $3.40 trillion, a P/E ratio of 27.74, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last announced its earnings results 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. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

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.