Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Trims Position in Alphabet Inc. $GOOGL

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,049,441 shares of the information services provider’s stock after selling 13,500 shares during the quarter. Alphabet makes up about 4.7% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 4th largest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Alphabet were worth $537,403,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Gimbal Financial boosted its holdings in shares of Alphabet by 1.9% in the 2nd quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock valued at $489,000 after buying an additional 53 shares during the period. Missouri Trust & Investment Co boosted its holdings in shares of Alphabet by 0.3% in the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after buying an additional 55 shares during the period. AM Investment Strategies LLC boosted its holdings in shares of Alphabet by 0.9% in the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after buying an additional 57 shares during the period. Bfsg LLC boosted its holdings in shares of Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after buying an additional 59 shares during the period. Finally, Financial Council LLC boosted its holdings in shares of Alphabet by 1.0% in the 2nd quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock valued at $1,022,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 103 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares of the company’s stock, valued at $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 222,330 shares of company stock worth $51,167,625. Company insiders own 11.64% of the company’s stock.

Alphabet Trading Down 0.1%

Shares of NASDAQ:GOOGL opened at $281.31 on Monday. The company has a 50 day moving average of $244.00 and a 200-day moving average of $200.31. The firm has a market cap 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 twelve month low of $140.53 and a twelve month high of $291.59. 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 issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share 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 analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on GOOGL. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Alphabet from $260.00 to $340.00 and gave the company a “buy” rating in a report on Thursday. Susquehanna boosted their price target on shares of Alphabet from $225.00 to $350.00 and gave the company a “positive” rating in a report on Thursday. Wells Fargo & Company boosted their price target on shares of Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a report on Thursday. DA Davidson boosted their price target on shares of Alphabet from $190.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Piper Sandler reissued an “overweight” rating and set a $330.00 price target (up previously from $285.00) on shares of Alphabet in a report on Thursday. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $302.20.

Alphabet Company Profile

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.