GenTrust LLC Decreases Stock Holdings in Alphabet Inc. $GOOGL

GenTrust LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,161 shares of the information services provider’s stock after selling 352 shares during the period. GenTrust LLC’s holdings in Alphabet were worth $1,086,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Guardian Wealth Management Inc. increased its position in Alphabet by 242.9% during 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. acquired a new stake in Alphabet in the first quarter worth about $28,000. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet during the first quarter worth about $28,000. NBZ Investment Advisors LLC increased its holdings in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet in the 1st quarter valued at approximately $39,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of GOOGL opened at $283.72 on Tuesday. The business’s 50-day moving average is $245.50 and its two-hundred day moving average is $201.24. The company has a market capitalization of $3.43 trillion, a P/E ratio of 27.98, a P/E/G ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $291.59. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s 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 completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 222,442 shares of company stock valued at $51,200,307 in the last ninety days. Insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GOOGL. Stifel Nicolaus set a $333.00 target price on shares of Alphabet in a research report on Thursday. CICC Research lifted their price objective on shares of Alphabet from $240.00 to $303.00 and gave the stock an “outperform” rating in a research note on Friday. KeyCorp reissued an “overweight” rating and issued a $300.00 target price (up from $265.00) on shares of Alphabet in a research report on Monday, October 27th. Susquehanna raised their target price on Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a research note on Thursday, October 30th. Finally, BNP Paribas Exane lifted their price target on Alphabet from $187.00 to $247.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $302.20.

Alphabet 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.