Alphabet Inc. $GOOGL Position Trimmed by Vivid Wealth Management LLC

Vivid Wealth Management LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,375 shares of the information services provider’s stock after selling 372 shares during the quarter. Vivid Wealth Management LLC’s holdings in Alphabet were worth $2,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Brighton Jones LLC boosted its position in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Alphabet by 10.5% during the 1st quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider’s stock worth $16,062,000 after purchasing an additional 9,900 shares in the last quarter. HFG Advisors Inc. lifted its holdings in shares of Alphabet by 16.8% during the 1st quarter. HFG Advisors Inc. now owns 2,094 shares of the information services provider’s stock valued at $324,000 after buying an additional 301 shares during the last quarter. Finally, Luken Investment Analytics LLC lifted its holdings in shares of Alphabet by 22.9% during the 1st quarter. Luken Investment Analytics LLC now owns 922 shares of the information services provider’s stock valued at $143,000 after buying an additional 172 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.7%

Alphabet stock opened at $253.30 on Monday. 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 Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.96. The firm has a fifty day moving average price of $231.55 and a two-hundred day moving average price of $192.14. The firm has a market cap of $3.06 trillion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 1.71 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. As a group, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Loop Capital restated a “hold” rating and issued a $190.00 price objective (up previously from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. The Goldman Sachs Group restated a “buy” rating and set a $288.00 price target on shares of Alphabet in a research note on Tuesday, October 14th. Rosenblatt Securities lifted their price objective on shares of Alphabet from $191.00 to $224.00 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Citizens Jmp upped their price objective on shares of Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $252.24.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 in the last three months. Company insiders own 11.55% of the company’s stock.

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.