Guardian Asset Advisors LLC Decreases Stake in Alphabet Inc. $GOOG

Guardian Asset Advisors LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 18.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 11,813 shares of the information services provider’s stock after selling 2,712 shares during the quarter. Alphabet accounts for approximately 1.2% of Guardian Asset Advisors LLC’s portfolio, making the stock its 21st biggest position. Guardian Asset Advisors LLC’s holdings in Alphabet were worth $2,097,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC boosted its stake in shares of Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after buying an additional 135,064,454 shares during the period. Nuveen LLC acquired a new stake in shares of Alphabet during the 1st quarter worth about $2,622,943,000. Vanguard Group Inc. raised its position in shares of Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Alphabet during the 1st quarter worth about $369,713,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s 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 directly owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 246,150 shares of company stock valued at $55,805,379 over the last three months. 12.99% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GOOG shares. Piper Sandler reissued a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. UBS Group set a $255.00 target price on Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 9th. Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Jefferies Financial Group lifted their price target on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Six analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $249.68.

Alphabet Stock Performance

NASDAQ GOOG opened at $260.51 on Monday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $262.51. The stock has a market cap of $3.15 trillion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 1.76 and a beta of 1.00. The business has a fifty day moving average of $237.33 and a 200-day moving average of $196.91. 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 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.