Larson Financial Group LLC Lowers Holdings in Alphabet Inc. (NASDAQ:GOOG)

Larson Financial Group LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 147 shares of the information services provider’s stock after selling 7 shares during the quarter. Larson Financial Group LLC’s holdings in Alphabet were worth $368,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Saban Cheryl bought a new stake in Alphabet during the 2nd quarter valued at about $25,000. Laurel Wealth Planning LLC grew its holdings in shares of Alphabet by 450.0% during the second quarter. Laurel Wealth Planning LLC now owns 11 shares of the information services provider’s stock valued at $28,000 after buying an additional 9 shares during the last quarter. Total Clarity Wealth Management Inc. purchased a new position in Alphabet in the 1st quarter worth approximately $31,000. Corsicana & Co. bought a new position in Alphabet in the 2nd quarter valued at approximately $50,000. Finally, Selective Wealth Management Inc. boosted its stake in Alphabet by 29.4% during the 2nd quarter. Selective Wealth Management Inc. now owns 22 shares of the information services provider’s stock valued at $55,000 after purchasing an additional 5 shares during the last quarter. 31.55% of the stock is owned by hedge funds and other institutional investors.

In other news, major shareholder Capitalg 2014 Lp sold 356,152 shares of the business’s stock in a transaction on Friday, July 30th. The shares were sold at an average price of $102.00, for a total transaction of $36,327,504.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John Kent Walker sold 2,501 shares of the business’s stock in a transaction dated Tuesday, June 29th. The shares were sold at an average price of $2,517.43, for a total transaction of $6,296,092.43. The disclosure for this sale can be found here. Insiders have sold 461,489 shares of company stock worth $325,800,236 in the last quarter. Company insiders own 12.99% of the company’s stock.

GOOG has been the topic of a number of research analyst reports. BMO Capital Markets upped their price target on Alphabet from $2,700.00 to $3,000.00 and gave the company an “outperform” rating in a report on Wednesday, July 28th. Guggenheim upped their target price on shares of Alphabet from $2,850.00 to $3,140.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. KGI Securities initiated coverage on shares of Alphabet in a report on Wednesday, June 2nd. They set an “outperform” rating on the stock. Stifel Nicolaus boosted their price objective on shares of Alphabet from $2,700.00 to $3,000.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Finally, Jefferies Financial Group raised their target price on shares of Alphabet from $2,950.00 to $3,150.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Three analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $3,087.17.

GOOG traded down $11.84 on Wednesday, hitting $2,856.28. The company had a trading volume of 20,492 shares, compared to its average volume of 1,313,009. The business’s fifty day simple moving average is $2,761.21 and its 200 day simple moving average is $2,467.80. The company has a quick ratio of 3.14, a current ratio of 3.15 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12-month low of $1,406.55 and a 12-month high of $2,936.41. The company has a market cap of $1.90 trillion, a PE ratio of 31.09, a PEG ratio of 1.85 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Monday, July 26th. The information services provider reported $27.26 EPS for the quarter, topping the Zacks’ consensus estimate of $19.89 by $7.37. Alphabet had a return on equity of 27.87% and a net margin of 28.57%. The firm had revenue of $61.88 billion during the quarter, compared to analysts’ expectations of $56.08 billion. During the same quarter in the previous year, the business earned $10.13 EPS. The company’s quarterly revenue was up 61.6% on a year-over-year basis. On average, analysts anticipate that Alphabet Inc. will post 101.86 earnings per share for the current fiscal year.

About Alphabet

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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