Interchange Capital Partners LLC Sells 1,346 Shares of Alphabet Inc. $GOOG

Interchange Capital Partners LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,184 shares of the information services provider’s stock after selling 1,346 shares during the period. Alphabet accounts for about 0.7% of Interchange Capital Partners LLC’s portfolio, making the stock its 28th biggest position. Interchange Capital Partners LLC’s holdings in Alphabet were worth $2,871,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOG. Brighton Jones LLC boosted its position in shares of 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 in the last quarter. Revisor Wealth Management LLC boosted its position in shares of Alphabet by 107.9% during the 1st quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock valued at $572,000 after purchasing an additional 1,899 shares in the last quarter. Golden State Wealth Management LLC boosted its position in shares of Alphabet by 6.2% during the 1st quarter. Golden State Wealth Management LLC now owns 10,160 shares of the information services provider’s stock valued at $1,587,000 after purchasing an additional 594 shares in the last quarter. Guardian Asset Advisors LLC boosted its position in shares of Alphabet by 7.5% during the 1st quarter. Guardian Asset Advisors LLC now owns 14,525 shares of the information services provider’s stock valued at $2,272,000 after purchasing an additional 1,009 shares in the last quarter. Finally, Westfuller Advisors LLC boosted its position in shares of Alphabet by 50.2% during the 1st quarter. Westfuller Advisors LLC now owns 4,303 shares of the information services provider’s stock valued at $672,000 after purchasing an additional 1,439 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $269.93 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.26 trillion, a price-to-earnings ratio of 28.75, a PEG ratio of 1.76 and a beta of 1.00. The stock has a 50 day moving average of $238.65 and a 200 day moving average of $197.67. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $270.80.

Analyst Ratings Changes

A number of research analysts recently weighed in on GOOG shares. Pivotal Research upped their price target on Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Oppenheimer set a $300.00 price target on Alphabet and gave the stock an “outperform” rating in a research note on Monday, October 20th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Morgan Stanley upped their price target on Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Finally, Jefferies Financial Group upped their price target on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $280.45.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 103 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at $3,629,725.80. The trade was a 16.06% 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 in the last ninety days. Insiders own 12.99% of the company’s stock.

About Alphabet

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.