Delta Investment Management LLC Sells 16,178 Shares of Alphabet Inc. $GOOG

Delta Investment Management LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 25.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,387 shares of the information services provider’s stock after selling 16,178 shares during the quarter. Alphabet makes up 1.6% of Delta Investment Management LLC’s portfolio, making the stock its 20th biggest position. Delta Investment Management LLC’s holdings in Alphabet were worth $8,406,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GOOG. MorganRosel Wealth Management LLC bought a new stake in Alphabet during the first quarter valued at about $26,000. IFS Advisors LLC raised its holdings in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares in the last quarter. Robbins Farley lifted its position 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 buying an additional 60 shares during the last quarter. WestEnd Advisors LLC lifted its position 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 buying an additional 61 shares during the last quarter. Finally, Fairman Group LLC boosted its holdings in shares of Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the sale, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at $598,149,304. The trade was a 1.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 246,150 shares of company stock valued at $55,805,379 over the last quarter. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

NASDAQ:GOOG opened at $268.43 on Wednesday. The firm’s fifty day moving average is $239.97 and its two-hundred day moving average is $198.46. The firm has a market cap of $3.25 trillion, a price-to-earnings ratio of 28.59, a PEG ratio of 1.82 and a beta of 1.00. 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 one year low of $142.66 and a one year high of $271.38.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. DA Davidson set a $825.00 price objective on shares of Alphabet in a research note on Monday. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Cowen reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, October 8th. UBS Group set a $255.00 price objective on Alphabet and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Finally, Pivotal Research upped their target price on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. Five research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $280.45.

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.