Alphabet Inc. $GOOG Shares Sold by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 99,225 shares of the information services provider’s stock after selling 672 shares during the period. Alphabet accounts for about 1.2% of Adell Harriman & Carpenter Inc.’s investment portfolio, making the stock its 26th largest position. Adell Harriman & Carpenter Inc.’s holdings in Alphabet were worth $17,602,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in GOOG. Brighton Jones LLC grew its stake in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after acquiring an additional 6,410 shares during the last quarter. Golden State Wealth Management LLC boosted its stake 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 worth $1,587,000 after purchasing an additional 594 shares during the last quarter. Smart Money Group LLC boosted its stake in shares of Alphabet by 24.6% during the 1st quarter. Smart Money Group LLC now owns 2,186 shares of the information services provider’s stock worth $342,000 after purchasing an additional 432 shares during the last quarter. Onyx Bridge Wealth Group LLC boosted its stake in shares of Alphabet by 0.6% during the 1st quarter. Onyx Bridge Wealth Group LLC now owns 23,656 shares of the information services provider’s stock worth $3,696,000 after purchasing an additional 137 shares during the last quarter. Finally, Davidson Trust Co. boosted its stake in shares of Alphabet by 24.3% during the 1st quarter. Davidson Trust Co. now owns 12,063 shares of the information services provider’s stock worth $1,885,000 after purchasing an additional 2,356 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on GOOG. DA Davidson set a $825.00 price target on shares of Alphabet in a research note on Monday, October 27th. Mizuho set a $325.00 price target on shares of Alphabet in a research note on Thursday. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $330.00 price target on shares of Alphabet in a research note on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $324.81.

Alphabet Price Performance

Alphabet stock opened at $281.82 on Friday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $291.93. The firm has a 50 day moving average price of $244.59 and a 200 day moving average price of $200.98. The company has a market cap of $3.41 trillion, a price-to-earnings ratio of 27.79, a PEG ratio of 1.86 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 (NASDAQ:GOOG) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same period in the previous year, the firm earned $2.12 earnings per share. Alphabet’s revenue was up 15.9% compared to the same quarter last year. Sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

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.