Ranch Capital Advisors Inc. Sells 213 Shares of Alphabet Inc. $GOOGL

Ranch Capital Advisors Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,964 shares of the information services provider’s stock after selling 213 shares during the quarter. Ranch Capital Advisors Inc.’s holdings in Alphabet were worth $2,108,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. raised its position in Alphabet by 242.9% during the first 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. acquired a new position in shares of Alphabet during the 1st quarter worth approximately $28,000. IMA Advisory Services Inc. bought a new stake in Alphabet in the 1st quarter valued at $28,000. NBZ Investment Advisors LLC raised its stake in Alphabet by 85.7% in the 1st 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 during the period. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet during the 1st quarter valued at $39,000. 40.03% of the stock is owned by institutional investors.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the transaction, the chief executive officer directly owned 2,402,119 shares of the company’s stock, valued at $584,699,785.79. This trade represents a 1.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated 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 directly owned 42,985 shares in the company, 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 sold 190,896 shares of company stock valued at $45,092,175 in the last 90 days. 11.64% of the stock is owned by corporate insiders.

Alphabet Price Performance

GOOGL stock opened at $277.54 on Wednesday. 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 Inc. has a 12 month low of $140.53 and a 12 month high of $291.59. The firm has a market cap of $3.36 trillion, a P/E ratio of 27.37, a P/E/G ratio of 1.86 and a beta of 1.00. The company’s 50-day moving average price is $246.91 and its two-hundred day moving average price is $202.13.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating 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 firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. On average, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GOOGL shares. Bank of America increased their price objective on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Cantor Fitzgerald increased their price objective on shares of Alphabet from $265.00 to $310.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Tigress Financial raised their price target on shares of Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research report on Friday, September 5th. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Finally, Rosenblatt Securities raised their price target on shares of Alphabet from $224.00 to $279.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $303.09.

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.