Alphabet Inc. $GOOG Shares Sold by McCarthy Asset Management Inc.

McCarthy Asset Management Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,397 shares of the information services provider’s stock after selling 169 shares during the quarter. Alphabet accounts for about 0.2% of McCarthy Asset Management Inc.’s investment portfolio, making the stock its 22nd largest holding. McCarthy Asset Management Inc.’s holdings in Alphabet were worth $248,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOG. RDA Financial Network grew its position in Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after acquiring an additional 554 shares in the last quarter. Bleakley Financial Group LLC grew its position in Alphabet by 1.4% in the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after acquiring an additional 2,304 shares in the last quarter. Oldfather Financial Services LLC acquired a new stake in Alphabet in the second quarter valued at approximately $213,000. Tower View Wealth Management LLC grew its position in Alphabet by 6.9% in the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after acquiring an additional 1,776 shares in the last quarter. Finally, Dock Street Asset Management Inc. grew its position in Alphabet by 0.8% in the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock valued at $41,563,000 after acquiring an additional 1,970 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $268.43 on Wednesday. The business’s fifty day moving average price is $239.97 and its 200 day moving average price is $198.46. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $271.38. The stock has a market capitalization of $3.25 trillion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 1.82 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.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. KeyCorp set a $265.00 price objective on shares of Alphabet in a research report on Wednesday, September 3rd. Pivotal Research raised their price target on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Piper Sandler reissued a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Jefferies Financial Group raised their price target on shares of Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $280.45.

Insider Buying and Selling

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

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.