Glass Jacobson Investment Advisors llc Sells 1,530 Shares of Alphabet Inc. $GOOGL

Glass Jacobson Investment Advisors llc trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 74.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 528 shares of the information services provider’s stock after selling 1,530 shares during the period. Glass Jacobson Investment Advisors llc’s holdings in Alphabet were worth $93,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GOOGL. Guardian Wealth Management Inc. raised its position in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. bought a new position in shares of Alphabet in the 1st quarter worth $28,000. IMA Advisory Services Inc. acquired a new position in Alphabet during the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC increased its position in Alphabet by 85.7% during the 1st 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 in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet during the 1st quarter valued at about $39,000. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Down 2.2%

Alphabet stock opened at $277.54 on Wednesday. The firm has a market cap of $3.36 trillion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth 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 business’s 50-day moving average price is $246.91 and its 200 day moving average price is $202.13. 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 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. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Insider Activity

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction on Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the sale, the director directly owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 190,896 shares of company stock valued at $45,092,175 in the last three months. Corporate insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GOOGL. Barclays reaffirmed an “overweight” rating and set a $315.00 target price (up from $250.00) on shares of Alphabet in a research report on Thursday, October 30th. HSBC upped their price target on shares of Alphabet from $295.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Mizuho set a $325.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Truist Financial upped their price target on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Wells Fargo & Company upped their price target on shares of Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $303.09.

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.