Key Financial Inc Reduces Stock Holdings in Alphabet Inc. $GOOG

Key Financial Inc cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,220 shares of the information services provider’s stock after selling 200 shares during the period. Key Financial Inc’s holdings in Alphabet were worth $1,281,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Next Capital Management LLC increased its holdings in Alphabet by 84.4% during the 2nd quarter. Next Capital Management LLC now owns 6,784 shares of the information services provider’s stock valued at $1,203,000 after acquiring an additional 3,105 shares in the last quarter. Fullcircle Wealth LLC grew its position in shares of Alphabet by 3.0% in the second quarter. Fullcircle Wealth LLC now owns 4,658 shares of the information services provider’s stock valued at $912,000 after purchasing an additional 137 shares during the last quarter. Bridgewater Advisors Inc. increased its stake in shares of Alphabet by 2.1% during the 2nd quarter. Bridgewater Advisors Inc. now owns 40,742 shares of the information services provider’s stock worth $8,003,000 after purchasing an additional 835 shares in the last quarter. K.J. Harrison & Partners Inc raised its position in shares of Alphabet by 17.1% during the 2nd quarter. K.J. Harrison & Partners Inc now owns 42,613 shares of the information services provider’s stock worth $7,559,000 after purchasing an additional 6,226 shares during the last quarter. Finally, Astra Wealth Partners LLC lifted its stake in Alphabet by 12.8% in the 2nd quarter. Astra Wealth Partners LLC now owns 3,702 shares of the information services provider’s stock valued at $657,000 after buying an additional 420 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOG has been the subject of a number of analyst reports. UBS Group reissued a “neutral” rating on shares of Alphabet in a report on Thursday, October 30th. Oppenheimer increased their price objective on Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Raymond James Financial set a $275.00 target price on shares of Alphabet and gave the company an “outperform” rating in a research note on Friday, October 24th. Piper Sandler upped their target price on shares of Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $340.00 price target on shares of Alphabet in a research note on Thursday, October 30th. 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $324.81.

Alphabet Stock Down 2.1%

Shares of NASDAQ:GOOG opened at $278.06 on Wednesday. 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 firm has a market cap of $3.36 trillion, a price-to-earnings ratio of 27.42, a PEG ratio of 1.86 and a beta of 1.00. The stock’s 50-day moving average price is $247.49 and its two-hundred day moving average price is $203.10. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $291.93.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same period in the prior year, the firm posted $2.12 EPS. The company’s revenue was up 15.9% on a year-over-year basis. On average, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director directly owned 6,916 shares of the company’s stock, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 190,896 shares of company stock worth $45,092,175. Company insiders own 12.99% of the company’s stock.

Alphabet Company 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.