Alphabet Inc. $GOOG Shares Sold by ForthRight Wealth Management LLC

ForthRight Wealth Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 4,229 shares of the information services provider’s stock after selling 395 shares during the period. ForthRight Wealth Management LLC’s holdings in Alphabet were worth $750,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after buying an additional 9,687,855 shares during the last quarter. Kingstone Capital Partners Texas LLC raised its position in shares of Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after buying an additional 135,064,454 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after buying an additional 9,243,959 shares during the last quarter. Deutsche Bank AG raised its position in shares of Alphabet by 5.4% in the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock valued at $3,334,852,000 after buying an additional 1,098,996 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Alphabet by 2.2% in the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock valued at $3,183,979,000 after buying an additional 440,526 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Alphabet stock opened at $253.79 on Monday. 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 stock has a market cap of $3.07 trillion, a P/E ratio of 27.03, a PEG ratio of 1.72 and a beta of 1.00. The company has a 50-day moving average price of $232.18 and a 200 day moving average price of $193.25. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $257.58.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet’s revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.89 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares of the company’s stock, valued at $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The stock was 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 approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 243,372 shares of company stock worth $55,110,740. 12.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on GOOG. Morgan Stanley increased their target price on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Pivotal Research increased their target price on shares of Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Scotiabank restated an “outperform” rating and set a $310.00 price objective on shares of Alphabet in a research report on Thursday. Finally, UBS Group set a $255.00 price objective on shares of Alphabet and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $244.68.

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.