Alphabet Inc. $GOOG Shares Sold by Curbstone Financial Management Corp

Curbstone Financial Management Corp cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.7% during the second quarter, Holdings Channel reports. The institutional investor owned 38,725 shares of the information services provider’s stock after selling 268 shares during the period. Alphabet makes up about 1.4% of Curbstone Financial Management Corp’s holdings, making the stock its 16th largest position. Curbstone Financial Management Corp’s holdings in Alphabet were worth $6,869,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GOOG. MorganRosel Wealth Management LLC purchased a new position in shares of Alphabet during the first quarter worth about $26,000. IFS Advisors LLC grew its holdings in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after buying an additional 120 shares during the last quarter. Robbins Farley grew its holdings in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares during the last quarter. WestEnd Advisors LLC boosted its holdings in Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares in the last quarter. Finally, Fairman Group LLC boosted its holdings in Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of research reports. Robert W. Baird lifted their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Piper Sandler restated a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Oppenheimer set a $300.00 target price on shares of Alphabet and gave the stock an “outperform” rating in a research note on Monday. Pivotal Research upped their price objective on Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Finally, KeyCorp set a $265.00 price objective on Alphabet in a report on Wednesday, September 3rd. Six analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $246.26.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated 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 owned 2,369,619 shares in the company, valued at $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock valued at $55,805,379 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $257.02 on Tuesday. The firm has a market cap of $3.11 trillion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 1.72 and a beta of 1.00. The firm’s 50-day simple moving average is $233.29 and its 200-day simple moving average is $194.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $257.88.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.89 EPS. Equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

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.