Alphabet Inc. $GOOGL Position Reduced by AlphaQuest LLC

AlphaQuest LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 60.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,011 shares of the information services provider’s stock after selling 4,541 shares during the quarter. AlphaQuest LLC’s holdings in Alphabet were worth $531,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Guardian Wealth Management Inc. raised its stake 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 purchasing an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet in the first quarter worth $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet during the first quarter valued at $28,000. NBZ Investment Advisors LLC raised its position in 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 buying an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Alphabet in the 1st quarter worth about $39,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

GOOGL stock opened at $277.54 on Wednesday. The firm has a 50 day moving average of $246.91 and a two-hundred day moving average of $202.13. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $291.59. The company has a market capitalization of $3.36 trillion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 1.86 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last announced 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. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 954 shares of Alphabet stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $282.33, for a total transaction of $269,342.82. Following the sale, the chief accounting officer owned 14,517 shares of the company’s stock, valued at approximately $4,098,584.61. This trade represents a 6.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares in the company, valued at $592,760,192.85. This represents a 1.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 190,896 shares of company stock worth $45,092,175 over the last 90 days. Company insiders own 11.64% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of several research analyst reports. Needham & Company LLC lifted their target price on Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Wedbush reaffirmed an “outperform” rating and set a $320.00 price objective (up from $245.00) on shares of Alphabet in a research report on Thursday, October 30th. Oppenheimer upped their price objective on shares of Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Finally, UBS Group reissued a “neutral” rating and set a $306.00 target price (up previously from $255.00) on shares of Alphabet in a research note on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $303.09.

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.