TKG Advisors LLC Reduces Stock Holdings in Alphabet Inc. $GOOG

TKG Advisors LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 23.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,140 shares of the information services provider’s stock after selling 958 shares during the quarter. TKG Advisors LLC’s holdings in Alphabet were worth $557,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Kingstone Capital Partners Texas LLC lifted its stake in 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 worth $23,963,208,000 after acquiring an additional 135,064,454 shares during the period. Nuveen LLC bought a new position in Alphabet in the first quarter worth $2,622,943,000. Vanguard Group Inc. raised its holdings in Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after purchasing an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares in the last quarter. Finally, Strs Ohio bought a new position in Alphabet in the first quarter worth $369,713,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on GOOG shares. Robert W. Baird increased their price objective on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Raymond James Financial set a $275.00 price objective on Alphabet and gave the stock an “outperform” rating in a report on Friday, October 24th. UBS Group reiterated a “neutral” rating on shares of Alphabet in a report on Thursday, October 30th. Bank of America increased their price objective on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Cowen reiterated a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $324.81.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $284.75 on Thursday. 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. The business has a fifty day moving average price of $249.02 and a 200-day moving average price of $203.67. The company has a market capitalization of $3.44 trillion, a PE ratio of 28.08, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. During the same period last year, the firm posted $2.12 earnings per share. Alphabet’s revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Insider Activity at Alphabet

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 transaction of $32,681.60. Following the sale, the director directly owned 18,004 shares of the company’s stock, valued at $5,253,567.20. This trade represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the sale, the director directly owned 5,116 shares in the company, valued at $1,242,778.72. This trade represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 190,896 shares of company stock valued at $45,092,175 over the last three months. 12.99% of the stock is owned by insiders.

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.