LB Partners LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 53.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 8,000 shares of the information services provider’s stock after selling 9,200 shares during the period. Alphabet accounts for about 0.9% of LB Partners LLC’s holdings, making the stock its 17th largest position. LB Partners LLC’s holdings in Alphabet were worth $1,419,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Salomon & Ludwin LLC increased its holdings in shares of Alphabet by 3.2% during the 2nd quarter. Salomon & Ludwin LLC now owns 2,069 shares of the information services provider’s stock valued at $372,000 after acquiring an additional 65 shares during the last quarter. Forvis Mazars Wealth Advisors LLC increased its holdings in shares of Alphabet by 2.0% during the 2nd quarter. Forvis Mazars Wealth Advisors LLC now owns 22,301 shares of the information services provider’s stock valued at $3,956,000 after acquiring an additional 447 shares during the last quarter. Crux Wealth Advisors increased its holdings in shares of Alphabet by 37.2% during the 2nd quarter. Crux Wealth Advisors now owns 11,540 shares of the information services provider’s stock valued at $2,047,000 after acquiring an additional 3,128 shares during the last quarter. Alpha Wealth Funds LLC acquired a new stake in Alphabet in the 2nd quarter valued at approximately $2,318,000. Finally, Pinnacle Wealth Management LLC grew its holdings in Alphabet by 3.6% in the 2nd quarter. Pinnacle Wealth Management LLC now owns 13,637 shares of the information services provider’s stock valued at $2,419,000 after buying an additional 479 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.
Alphabet Price Performance
Alphabet stock opened at $251.34 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $3.04 trillion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.74 and a beta of 1.00. Alphabet Inc. has a one year low of $142.66 and a one year high of $257.88. The business has a 50 day simple moving average of $234.23 and a 200 day simple moving average of $194.41.
Insider Buying and Selling at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 246,150 shares of company stock worth $55,805,379. 12.99% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of analysts have issued reports on GOOG shares. UBS Group set a $255.00 target price on Alphabet and gave the company a “neutral” rating in a report on Thursday, October 9th. Raymond James Financial reaffirmed an “outperform” rating and issued a $210.00 target price (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Barclays reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, KeyCorp set a $265.00 price objective on Alphabet in a research report on Wednesday, September 3rd. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $246.26.
Check Out Our Latest Research Report on GOOG
Alphabet Company 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.
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