Alphabet Inc. $GOOGL Shares Sold by Studio Investment Management LLC

Studio Investment Management LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,063 shares of the information services provider’s stock after selling 1,157 shares during the quarter. Alphabet comprises about 1.8% of Studio Investment Management LLC’s portfolio, making the stock its 11th biggest holding. Studio Investment Management LLC’s holdings in Alphabet were worth $9,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after purchasing an additional 4,473,901 shares in the last quarter. Invesco Ltd. lifted its position in shares of Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after purchasing an additional 593,345 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock worth $6,153,481,000 after purchasing an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Alphabet by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock worth $5,962,389,000 after purchasing an additional 104,859 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $281.31 on Friday. The firm has a market capitalization of $3.40 trillion, a P/E ratio of 27.74, a P/E/G ratio of 1.86 and a beta of 1.00. 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 firm’s 50 day moving average is $244.00 and its two-hundred day moving average is $199.98.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for 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%. Research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on GOOGL. Wedbush reissued an “outperform” rating and set a $320.00 price target (up previously from $245.00) on shares of Alphabet in a research report on Thursday. Jefferies Financial Group raised their target price on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a report on Thursday. Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Wall Street Zen raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Saturday. Finally, China Renaissance raised their target price on shares of Alphabet from $207.00 to $330.00 and gave the company a “buy” rating in a report on Friday. Three analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $302.20.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the 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 transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. This represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 246,150 shares of company stock worth $55,805,379 over 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.