Alphabet Inc. $GOOG Shares Sold by Exencial Wealth Advisors LLC

Exencial Wealth Advisors LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 261,071 shares of the information services provider’s stock after selling 10,926 shares during the quarter. Alphabet makes up 1.6% of Exencial Wealth Advisors LLC’s holdings, making the stock its 7th largest holding. Exencial Wealth Advisors LLC’s holdings in Alphabet were worth $46,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of GOOG. Brighton Jones LLC raised its stake in Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares during the last quarter. Revisor Wealth Management LLC increased its holdings in Alphabet by 107.9% in the 1st quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock valued at $572,000 after buying an additional 1,899 shares during the period. GAMMA Investing LLC increased its holdings in Alphabet by 19.5% in the 1st quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider’s stock valued at $14,323,000 after buying an additional 14,931 shares during the period. TigerOak Management L.L.C. increased its holdings in Alphabet by 0.8% in the 1st quarter. TigerOak Management L.L.C. now owns 20,068 shares of the information services provider’s stock valued at $3,135,000 after buying an additional 150 shares during the period. Finally, SOL Capital Management CO increased its holdings in Alphabet by 1.8% in the 1st quarter. SOL Capital Management CO now owns 15,349 shares of the information services provider’s stock valued at $2,398,000 after buying an additional 270 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Jefferies Financial Group boosted their price target on shares of Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Robert W. Baird boosted their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Finally, Piper Sandler reissued a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have assigned 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 an average target price of $249.68.

Alphabet Stock Up 2.7%

GOOG opened at $260.51 on Friday. The firm’s 50-day simple moving average is $237.33 and its 200-day simple moving average is $196.32. 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 twelve month low of $142.66 and a twelve month high of $262.51. The firm has a market cap of $3.15 trillion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.71 and a beta of 1.00.

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

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares in the company, valued at $3,629,725.80. This represents a 16.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the transaction, the director owned 5,116 shares in the company, valued at approximately $1,242,778.72. This trade represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock worth $55,805,379 in the last quarter. 12.99% of the stock is owned by corporate insiders.

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.