Darden Wealth Group Inc Reduces Holdings in Alphabet Inc. $GOOG

Darden Wealth Group Inc decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,318 shares of the information services provider’s stock after selling 390 shares during the period. Alphabet makes up approximately 1.5% of Darden Wealth Group Inc’s holdings, making the stock its 12th largest position. Darden Wealth Group Inc’s holdings in Alphabet were worth $2,540,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MorganRosel Wealth Management LLC purchased a new stake in Alphabet in the first quarter valued at approximately $26,000. IFS Advisors LLC raised its stake in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the period. Robbins Farley raised its stake in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the period. WestEnd Advisors LLC raised its stake in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares during the period. Finally, Fairman Group LLC raised its stake in shares of Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 97 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Barclays reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Mizuho raised shares of Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. Finally, Piper Sandler reissued a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Six investment 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 given a Sell rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $280.45.

Alphabet Trading Up 3.6%

Shares of NASDAQ:GOOG opened at $269.93 on Tuesday. The company has a market cap of $3.26 trillion, a PE ratio of 28.75, a P/E/G ratio of 1.76 and a beta of 1.00. The company’s 50-day moving average price is $238.65 and its 200 day moving average price is $197.67. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $270.80. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the company’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 sale, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 sale, the chief executive officer directly owned 2,397,392 shares in the company, valued at $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. Over the last quarter, insiders sold 246,150 shares of company stock valued at $55,805,379. 12.99% of the stock is currently owned by corporate insiders.

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.