Moss Adams Wealth Advisors LLC Has $5.89 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Moss Adams Wealth Advisors LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 17.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,534 shares of the information services provider’s stock after selling 7,740 shares during the period. Alphabet makes up 0.6% of Moss Adams Wealth Advisors LLC’s holdings, making the stock its 19th biggest holding. Moss Adams Wealth Advisors LLC’s holdings in Alphabet were worth $5,893,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. MorganRosel Wealth Management LLC grew its position in shares of Alphabet by 3.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after purchasing an additional 57 shares in the last quarter. Hengehold Capital Management LLC lifted its stake in Alphabet by 0.8% during the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after purchasing an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc boosted its stake in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares in the last quarter. First PREMIER Bank grew its holdings in shares of Alphabet by 3.8% during the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 61 shares during the last quarter. Finally, MKT Advisors LLC increased its holdings in shares of Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after buying an additional 62 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.9 %

Shares of GOOGL stock opened at $166.72 on Tuesday. The stock has a market cap of $2.06 trillion, a P/E ratio of 25.57, a PEG ratio of 1.27 and a beta of 1.04. The company’s fifty day simple moving average is $161.95 and its two-hundred day simple moving average is $168.65. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $122.68 and a 52 week high of $191.75.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GOOGL shares. Piper Sandler reissued an “overweight” rating and set a $200.00 price target on shares of Alphabet in a research report on Monday, September 30th. The Goldman Sachs Group decreased their price target on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Truist Financial boosted their target price on Alphabet from $196.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company reduced their price target on shares of Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Finally, BMO Capital Markets dropped their price target on shares of Alphabet from $222.00 to $215.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $201.76.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $164.95, for a total transaction of $247,425.00. Following the completion of the sale, the director now directly owns 26,324 shares in the company, valued at $4,342,143.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,426 shares of company stock worth $35,993,340. Corporate insiders own 11.55% of the company’s stock.

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.