BetterWealth LLC Sells 86 Shares of Alphabet Inc. (NASDAQ:GOOG)

BetterWealth LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.5% during the third quarter, HoldingsChannel.com reports. The firm owned 18,185 shares of the information services provider’s stock after selling 86 shares during the period. Alphabet accounts for 0.9% of BetterWealth LLC’s portfolio, making the stock its 16th largest position. BetterWealth LLC’s holdings in Alphabet were worth $3,040,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Abich Financial Wealth Management LLC raised its holdings in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Alphabet in the second quarter worth approximately $37,000. HWG Holdings LP bought a new position in Alphabet during the second quarter valued at approximately $40,000. Slocum Gordon & Co LLP bought a new position in shares of Alphabet during the 2nd quarter valued at $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 worth $45,000 after purchasing an additional 100 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value 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. This represents 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 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 0.0 %

Shares of NASDAQ:GOOG opened at $164.53 on Friday. The stock has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.23, a PEG ratio of 1.21 and a beta of 1.04. The stock has a fifty day simple moving average of $163.28 and a two-hundred day simple moving average of $169.92. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. 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 (NASDAQ:GOOG) last posted 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 net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter in the prior year, the company posted $1.44 earnings per share. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on GOOG. Scotiabank began coverage on Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target on the stock. Pivotal Research began coverage on Alphabet in a report on Tuesday, October 1st. They set a “buy” rating and a $215.00 price target on the stock. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research report on Friday, June 28th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $186.90.

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.