GLOBALT Investments LLC GA Sells 4,771 Shares of Alphabet Inc. $GOOGL

GLOBALT Investments LLC GA lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 5.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,292 shares of the information services provider’s stock after selling 4,771 shares during the quarter. Alphabet accounts for approximately 0.5% of GLOBALT Investments LLC GA’s investment portfolio, making the stock its 27th biggest position. GLOBALT Investments LLC GA’s holdings in Alphabet were worth $13,445,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GOOGL. Mystic Asset Management Inc. increased its holdings in 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 buying an additional 1,791 shares during the period. Harbour Trust & Investment Management Co increased its holdings in 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 buying an additional 80 shares during the period. Cypress Capital LLC increased its holdings in 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 buying an additional 563 shares during the period. Bridgeway Capital Management LLC increased its holdings in 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 buying an additional 13,371 shares during the period. Finally, Alaethes Wealth LLC increased its holdings in 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 buying an additional 84 shares during the period. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent analyst reports. Stifel Nicolaus set a $333.00 target price on shares of Alphabet in a report on Thursday. Wedbush reissued an “outperform” rating and set a $320.00 target price (up previously from $245.00) on shares of Alphabet in a research note on Thursday. Needham & Company LLC boosted their target price on Alphabet from $260.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Morgan Stanley boosted their target price on Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, Roth Capital boosted their target price on Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Three investment 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.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $302.20.

Alphabet Stock Performance

Alphabet stock opened at $283.72 on Tuesday. The business has a 50 day moving average of $245.50 and a 200-day moving average of $201.24. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $291.59. 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 (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. On average, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at $592,760,192.85. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 222,442 shares of company stock worth $51,200,307 over the last quarter. 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.