Alphabet Inc. $GOOG Shares Sold by C WorldWide Group Holding A S

C WorldWide Group Holding A S lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 15.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,562,645 shares of the information services provider’s stock after selling 450,745 shares during the quarter. Alphabet makes up about 6.2% of C WorldWide Group Holding A S’s investment portfolio, making the stock its 4th largest position. C WorldWide Group Holding A S’s holdings in Alphabet were worth $454,588,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. IFS Advisors LLC increased its holdings in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares during the period. Robbins Farley boosted its position in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC increased its stake in Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares during the period. Fairman Group LLC increased its stake in Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. acquired a new position in Alphabet in the first quarter worth about $32,000. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of recent research reports. Barclays lifted their price objective on Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Raymond James Financial set a $275.00 price target on Alphabet and gave the company an “outperform” rating in a research note on Friday, October 24th. Robert W. Baird increased their price objective on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. KeyCorp restated an “overweight” rating and issued a $330.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Finally, Mizuho set a $325.00 target price on shares of Alphabet in a report on Thursday, October 30th. Five investment 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 given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred 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. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 189,896 shares of company stock valued at $44,892,175. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $285.34 on Friday. The business’s fifty day moving average is $250.48 and its two-hundred day moving average is $204.23. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $3.45 trillion, a P/E ratio of 28.14, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $291.93.

Alphabet (NASDAQ:GOOG) last released its quarterly 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. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.12 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

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.