Burford Brothers Inc. Sells 162 Shares of Alphabet Inc. $GOOG

Burford Brothers Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,789 shares of the information services provider’s stock after selling 162 shares during the period. Alphabet accounts for 1.0% of Burford Brothers Inc.’s investment portfolio, making the stock its 21st largest holding. Burford Brothers Inc.’s holdings in Alphabet were worth $2,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. RDA Financial Network boosted its holdings in Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after acquiring an additional 554 shares during the last quarter. Tower View Wealth Management LLC lifted its stake in Alphabet by 6.9% in the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after buying an additional 1,776 shares during the period. Oldfather Financial Services LLC acquired a new position in Alphabet in the second quarter valued at approximately $213,000. Dock Street Asset Management Inc. lifted its stake in Alphabet by 0.8% in the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock valued at $41,563,000 after buying an additional 1,970 shares during the period. Finally, Truist Financial Corp lifted its stake in Alphabet by 0.4% in the second quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock valued at $643,381,000 after buying an additional 15,065 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Oppenheimer set a $300.00 price target on Alphabet and gave the company an “outperform” rating in a research note on Monday. UBS Group set a $255.00 price target on Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 9th. Raymond James Financial reissued an “outperform” rating and issued a $210.00 price target (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Scotiabank reissued an “outperform” rating and issued a $310.00 price target on shares of Alphabet in a research note on Thursday, October 16th. Finally, Mizuho raised Alphabet to a “strong-buy” rating in a research note on Monday, September 29th. 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, the company has an average rating of “Moderate Buy” and a consensus price target of $246.26.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the sale, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. 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 ninety days. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $251.34 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 twelve month low of $142.66 and a twelve month high of $257.88. The stock’s 50 day moving average is $234.23 and its 200-day moving average is $194.41. The firm has a market capitalization of $3.04 trillion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.74 and a beta of 1.00.

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

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.