Alphabet Inc. $GOOG Stock Holdings Lowered by Heritage Investors Management Corp

Heritage Investors Management Corp decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 395,086 shares of the information services provider’s stock after selling 2,667 shares during the quarter. Alphabet accounts for 2.2% of Heritage Investors Management Corp’s portfolio, making the stock its 9th largest position. Heritage Investors Management Corp’s holdings in Alphabet were worth $70,084,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. ACT Advisors LLC. increased its position in Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after acquiring an additional 55 shares during the last quarter. Moser Wealth Advisors LLC increased its position in Alphabet by 2.2% during the second quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock valued at $451,000 after acquiring an additional 55 shares during the last quarter. LongView Wealth Management increased its position in Alphabet by 1.1% during the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after acquiring an additional 56 shares during the last quarter. Kooman & Associates increased its position in Alphabet by 1.4% during the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after acquiring an additional 56 shares during the last quarter. Finally, Greenup Street Wealth Management LLC raised its position in Alphabet by 0.5% in the second quarter. Greenup Street Wealth Management LLC now owns 11,656 shares of the information services provider’s stock worth $2,068,000 after acquiring an additional 56 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at $592,760,192.85. This trade represents a 1.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director owned 5,116 shares in the company, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 246,150 shares of company stock worth $55,805,379. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Down 0.0%

Shares of GOOG stock opened at $281.82 on Friday. The company has a market capitalization of $3.41 trillion, a price-to-earnings ratio of 27.79, a PEG ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a one year low of $142.66 and a one year high of $291.93. The company’s fifty day moving average price is $244.59 and its 200-day moving average price is $200.98. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company’s revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm earned $2.12 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on GOOG. BMO Capital Markets reiterated an “outperform” rating and issued a $340.00 price target on shares of Alphabet in a research report on Thursday. Raymond James Financial set a $275.00 price target on shares of Alphabet and gave the stock an “outperform” rating in a research report on Friday, October 24th. Scotiabank set a $336.00 price target on shares of Alphabet and gave the stock a “sector outperform” rating in a research report on Thursday. DA Davidson set a $825.00 price target on shares of Alphabet in a research report on Monday, October 27th. Finally, Sanford C. Bernstein increased their price target on shares of Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

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.