Fiduciary Financial Group LLC Sells 450 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Fiduciary Financial Group LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,539 shares of the information services provider’s stock after selling 450 shares during the period. Fiduciary Financial Group LLC’s holdings in Alphabet were worth $911,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc grew its holdings in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC purchased a new stake in Alphabet in the second quarter worth $36,000. Tributary Capital Management LLC purchased a new stake in Alphabet in the first quarter worth $30,000. Denver PWM LLC purchased a new stake in Alphabet in the second quarter worth $41,000. Finally, Quarry LP purchased a new stake in Alphabet in the second quarter worth $53,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.3 %

Alphabet stock opened at $163.42 on Friday. The business has a 50-day simple moving average of $161.77 and a two-hundred day simple moving average of $168.16. The company has a market cap of $2.02 trillion, a P/E ratio of 25.06, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the company posted $1.44 EPS. Analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock valued at $35,993,340 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Jefferies Financial Group raised their price target on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. JPMorgan Chase & Co. raised their price target on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. UBS Group raised their price target on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Wolfe Research began coverage on Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective for the company. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a research report on Monday, October 7th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.76.

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.