Alphabet Inc. (NASDAQ:GOOG) Shares Sold by L. Roy Papp & Associates LLP

L. Roy Papp & Associates LLP decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 175,191 shares of the information services provider’s stock after selling 5,285 shares during the period. Alphabet makes up about 3.5% of L. Roy Papp & Associates LLP’s portfolio, making the stock its 6th biggest position. L. Roy Papp & Associates LLP’s holdings in Alphabet were worth $29,290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Colonial River Wealth Management LLC increased its position in Alphabet by 5.3% during the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after purchasing an additional 107 shares in the last quarter. Oak Ridge Investments LLC grew its stake in shares of Alphabet by 4.6% during the first quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock worth $28,508,000 after buying an additional 8,201 shares during the last quarter. Rosenberg Matthew Hamilton increased its holdings in shares of Alphabet by 4.6% during the second quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock worth $2,097,000 after buying an additional 498 shares in the last quarter. Alliance Wealth Management Group increased its holdings in shares of Alphabet by 93.6% during the first quarter. Alliance Wealth Management Group now owns 3,910 shares of the information services provider’s stock worth $595,000 after buying an additional 1,890 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of Alphabet by 4.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,628,176 shares of the information services provider’s stock valued at $439,405,000 after acquiring an additional 115,716 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GOOG. TD Cowen upped their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Scotiabank assumed coverage on shares of Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price on the stock. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Pivotal Research assumed coverage on shares of Alphabet in a report on Tuesday, October 1st. They set a “buy” rating and a $215.00 price target on the stock. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $186.90.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was 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 of the company’s stock, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. 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 worth $35,993,340 over the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.8 %

Shares of NASDAQ GOOG opened at $168.34 on Tuesday. Alphabet Inc. has a 52-week low of $123.88 and a 52-week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company’s 50 day moving average price is $163.35 and its 200-day moving average price is $170.18. The company has a market capitalization of $2.08 trillion, a P/E ratio of 25.82, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04.

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.