Northcape Wealth Management LLC Sells 458 Shares of Alphabet Inc. $GOOG

Northcape Wealth Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 18,217 shares of the information services provider’s stock after selling 458 shares during the period. Northcape Wealth Management LLC’s holdings in Alphabet were worth $3,232,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Next Capital Management LLC grew its holdings in shares of Alphabet by 84.4% in the second 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 holdings 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 acquiring an additional 137 shares in the last quarter. Bridgewater Advisors Inc. lifted its stake in Alphabet by 2.1% in the second quarter. Bridgewater Advisors Inc. now owns 40,742 shares of the information services provider’s stock valued at $8,003,000 after purchasing an additional 835 shares during the last quarter. K.J. Harrison & Partners Inc lifted its stake in Alphabet by 17.1% in the second quarter. K.J. Harrison & Partners Inc now owns 42,613 shares of the information services provider’s stock valued at $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 second quarter. Astra Wealth Partners LLC now owns 3,702 shares of the information services provider’s stock valued at $657,000 after purchasing an additional 420 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Down 2.1%

NASDAQ:GOOG opened at $278.06 on Wednesday. The company has a market cap of $3.36 trillion, a P/E ratio of 27.42, a P/E/G ratio of 1.86 and a beta of 1.00. The stock’s fifty day moving average price is $247.49 and its two-hundred day moving average price is $203.10. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $291.93. 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 posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping 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 return on equity of 36.08% and a net margin of 32.23%.The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.12 earnings per share. As a group, analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Insider Buying and Selling

In related news, Director Frances Arnold sold 112 shares of the stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the sale, the director owned 18,004 shares in the company, valued at approximately $5,253,567.20. This trade represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director owned 5,116 shares in the company, valued at $1,242,778.72. This trade represents a 10.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 190,896 shares of company stock valued at $45,092,175 in the last ninety days. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GOOG. Robert W. Baird upped their price objective on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Cowen reiterated a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Finally, Cantor Fitzgerald set a $310.00 price objective on Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 30th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $324.81.

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.