Alphabet Inc. $GOOG Stake Lessened by Financial Futures Ltd Liability Co.

Financial Futures Ltd Liability Co. cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 6.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 6,358 shares of the information services provider’s stock after selling 415 shares during the period. Alphabet accounts for approximately 0.6% of Financial Futures Ltd Liability Co.’s holdings, making the stock its 29th largest holding. Financial Futures Ltd Liability Co.’s holdings in Alphabet were worth $1,128,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GOOG. Vanguard Group Inc. lifted its stake in Alphabet by 2.4% during 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 purchasing an additional 9,687,855 shares during the last quarter. Kingstone Capital Partners Texas LLC lifted its stake in Alphabet by 580,897.4% during 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 purchasing an additional 135,064,454 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Alphabet by 9.9% during 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 purchasing an additional 9,243,959 shares during the last quarter. Deutsche Bank AG lifted its stake in Alphabet by 5.4% during 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 purchasing an additional 1,098,996 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Alphabet by 2.2% during 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 purchasing an additional 440,526 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares in the company, valued at $3,629,725.80. This represents a 16.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 246,150 shares of company stock worth $55,805,379. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GOOG shares. Pivotal Research upped their price target 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. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Jefferies Financial Group upped their price target on shares of Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Barclays restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Robert W. Baird upped their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $246.26.

Alphabet Stock Up 1.3%

GOOG stock opened at $257.02 on Tuesday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $257.88. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.11 trillion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.72 and a beta of 1.00. The company has a 50 day moving average of $233.29 and a two-hundred day moving average of $194.01.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. The company’s revenue was up 13.8% compared to the same quarter last year. On average, equities analysts anticipate 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.