Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Prentiss Smith & Co. Inc.

Prentiss Smith & Co. Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,299 shares of the information services provider’s stock after selling 70 shares during the period. Alphabet accounts for approximately 5.3% of Prentiss Smith & Co. Inc.’s investment portfolio, making the stock its biggest holding. Prentiss Smith & Co. Inc.’s holdings in Alphabet were worth $8,242,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GOOG. Abich Financial Wealth Management LLC grew its holdings in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Alphabet in the 2nd quarter valued at about $37,000. HWG Holdings LP purchased a new position in Alphabet during the 2nd quarter worth approximately $40,000. Slocum Gordon & Co LLP acquired a new position in Alphabet during the second quarter worth approximately $44,000. Finally, Hoese & Co LLP lifted its stake in Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on GOOG. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a report on Friday, June 28th. Scotiabank initiated coverage on shares of Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective on the stock. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. TD Cowen boosted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Pivotal Research started coverage on Alphabet in a research note on Tuesday, October 1st. They set a “buy” rating and a $215.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $186.90.

Alphabet Stock Performance

Shares of GOOG stock opened at $165.80 on Tuesday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The company has a market cap of $2.05 trillion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The stock has a 50 day simple moving average of $163.21 and a 200-day simple moving average of $169.86.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. Alphabet’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.44 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the sale, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. 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. 12.99% of the stock is currently owned by company insiders.

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.