Homestead Advisers Corp Reduces Stake in Alphabet Inc. $GOOG

Homestead Advisers Corp lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 68.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,260 shares of the information services provider’s stock after selling 252,500 shares during the period. Homestead Advisers Corp’s holdings in Alphabet were worth $20,978,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FWG Holdings LLC grew its position in Alphabet by 1.8% in the second quarter. FWG Holdings LLC now owns 8,213 shares of the information services provider’s stock worth $1,608,000 after acquiring an additional 144 shares in the last quarter. Simplex Trading LLC lifted its stake in Alphabet by 378.3% in the second quarter. Simplex Trading LLC now owns 357,870 shares of the information services provider’s stock worth $63,482,000 after purchasing an additional 283,043 shares during the last quarter. Oakwell Private Wealth Management LLC lifted its stake in Alphabet by 11.9% in the second quarter. Oakwell Private Wealth Management LLC now owns 2,937 shares of the information services provider’s stock worth $521,000 after purchasing an additional 312 shares during the last quarter. Cassaday & Co Wealth Management LLC lifted its stake in Alphabet by 1.9% in the second quarter. Cassaday & Co Wealth Management LLC now owns 33,075 shares of the information services provider’s stock worth $5,867,000 after purchasing an additional 620 shares during the last quarter. Finally, Pointe Capital Management LLC lifted its stake in Alphabet by 5.9% in the second quarter. Pointe Capital Management LLC now owns 10,551 shares of the information services provider’s stock worth $1,872,000 after purchasing an additional 588 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. DA Davidson set a $825.00 price objective on shares of Alphabet in a research note on Monday, October 27th. Canaccord Genuity Group reissued a “buy” rating and issued a $330.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. Cowen reissued a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Mizuho set a $325.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. Five research 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 issued a Sell rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Stock Performance

Alphabet stock opened at $284.75 on Thursday. The company has a market capitalization of $3.44 trillion, a PE ratio of 28.08, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $291.93. 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 company has a 50 day moving average price of $249.02 and a 200-day moving average price of $203.67.

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

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the transaction, the chief executive officer owned 2,402,119 shares of the company’s stock, valued at $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 190,896 shares of company stock worth $45,092,175. 12.99% of the stock is currently owned by corporate 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.