Alphabet Inc. (NASDAQ:GOOGL) is Hayek Kallen Investment Management’s 7th Largest Position

Hayek Kallen Investment Management decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 54,250 shares of the information services provider’s stock after selling 1,157 shares during the period. Alphabet accounts for 3.2% of Hayek Kallen Investment Management’s portfolio, making the stock its 7th biggest position. Hayek Kallen Investment Management’s holdings in Alphabet were worth $8,997,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Global Assets Advisory LLC increased its position in shares of Alphabet by 15,351.0% during the first quarter. Global Assets Advisory LLC now owns 2,304,517 shares of the information services provider’s stock worth $347,821,000 after purchasing an additional 2,289,602 shares in the last quarter. Financial Synergies Wealth Advisors Inc. grew its stake in Alphabet by 560.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 528 shares of the information services provider’s stock worth $80,000 after buying an additional 448 shares during the last quarter. Perkins Coie Trust Co increased its position in Alphabet by 0.8% during the first quarter. Perkins Coie Trust Co now owns 66,940 shares of the information services provider’s stock worth $10,103,000 after buying an additional 541 shares during the period. Capital Planning LLC purchased a new stake in Alphabet in the first quarter valued at approximately $412,000. Finally, BlueSky Wealth Advisors LLC boosted its holdings in shares of Alphabet by 4.9% in the first quarter. BlueSky Wealth Advisors LLC now owns 7,519 shares of the information services provider’s stock valued at $1,135,000 after acquiring an additional 350 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were 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 owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $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 worth $35,993,340 in the last three months. 11.55% of the stock is owned by insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $162.78 on Thursday. The firm has a 50-day moving average of $161.87 and a two-hundred day moving average of $168.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market cap of $2.01 trillion, a P/E ratio of 24.97, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GOOGL. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 target price on shares of Alphabet in a report on Monday, October 7th. JMP Securities restated a “market outperform” rating and issued a $200.00 price objective on shares of Alphabet in a research note on Wednesday, September 25th. Wedbush reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research note on Thursday, September 5th. Loop Capital restated a “hold” rating and issued a $170.00 price target on shares of Alphabet in a research report on Wednesday, July 3rd. Finally, UBS Group upped their price objective on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus 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.