Profit Investment Management LLC Sells 591 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Profit Investment Management LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,178 shares of the information services provider’s stock after selling 591 shares during the quarter. Profit Investment Management LLC’s holdings in Alphabet were worth $1,356,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of GOOGL. New Hampshire Trust boosted its holdings in Alphabet by 2.7% in the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares during the period. Berkshire Money Management Inc. bought a new stake in Alphabet in the 1st quarter valued at $359,000. Schneider Downs Wealth Management Advisors LP boosted its holdings in Alphabet by 58.4% in the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after purchasing an additional 2,351 shares during the period. Sanders Morris Harris LLC acquired a new position in shares of Alphabet in the 1st quarter valued at $842,000. Finally, Trinity Financial Advisors LLC raised its stake in shares of Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after buying an additional 190 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Up 0.3 %

Alphabet stock opened at $163.42 on Friday. The company’s 50 day simple moving average is $161.77 and its 200 day simple moving average is $168.16. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The firm has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 25.06, a PEG ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter last year, the firm earned $1.44 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The shares were 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 owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The shares were 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 owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock valued at $35,993,340 in the last 90 days. 11.55% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GOOGL shares. Citigroup increased their price objective on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Loop Capital restated a “hold” rating and issued a $170.00 price objective on shares of Alphabet in a research note on Wednesday, July 3rd. Wells Fargo & Company dropped their price objective on shares of Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. TD Securities increased their price objective on shares of Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Finally, UBS Group increased their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $201.76.

About Alphabet

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.