Liberty Square Wealth Partners LLC Lowers Holdings in Alphabet Inc. $GOOG

Liberty Square Wealth Partners LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,149 shares of the information services provider’s stock after selling 200 shares during the quarter. Liberty Square Wealth Partners LLC’s holdings in Alphabet were worth $381,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC lifted its holdings in Alphabet by 3.2% in the 2nd quarter. Salomon & Ludwin LLC now owns 2,069 shares of the information services provider’s stock worth $372,000 after purchasing an additional 65 shares in the last quarter. Forvis Mazars Wealth Advisors LLC raised its position in shares of Alphabet by 2.0% during the second quarter. Forvis Mazars Wealth Advisors LLC now owns 22,301 shares of the information services provider’s stock valued at $3,956,000 after buying an additional 447 shares during the last quarter. Crux Wealth Advisors lifted its holdings in shares of Alphabet by 37.2% in the second quarter. Crux Wealth Advisors now owns 11,540 shares of the information services provider’s stock worth $2,047,000 after buying an additional 3,128 shares in the last quarter. Alpha Wealth Funds LLC bought a new position in shares of Alphabet during the second quarter worth $2,318,000. Finally, Pinnacle Wealth Management LLC grew its stake in Alphabet by 3.6% during the second quarter. Pinnacle Wealth Management LLC now owns 13,637 shares of the information services provider’s stock valued at $2,419,000 after acquiring an additional 479 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock valued at $55,805,379 over the last three months. 12.99% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Oppenheimer set a $300.00 price target on shares of Alphabet and gave the stock an “outperform” rating in a research note on Monday. TD Cowen increased their price target on Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $232.00 to $260.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 3rd. Robert W. Baird upped their price objective on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Finally, BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.26.

Alphabet Price Performance

NASDAQ:GOOG opened at $251.34 on Wednesday. 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. 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 business has a 50 day simple moving average of $234.23 and a 200-day simple moving average of $194.41. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $257.88.

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