WealthCare Investment Partners LLC Cuts Position in Alphabet Inc. (NASDAQ:GOOGL)

WealthCare Investment Partners LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,516 shares of the information services provider’s stock after selling 196 shares during the period. WealthCare Investment Partners LLC’s holdings in Alphabet were worth $573,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc boosted its position in shares of Alphabet by 75.0% in the 2nd 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. Tributary Capital Management LLC acquired a new position in Alphabet during the first quarter worth about $30,000. Kings Path Partners LLC purchased a new stake in shares of Alphabet in the second quarter valued at about $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet in the second quarter valued at approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 0.2 %

GOOGL stock opened at $165.16 on Thursday. 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 firm has a market cap of $2.04 trillion, a PE ratio of 25.33, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The firm has a 50 day simple moving average of $161.76 and a 200 day simple moving average of $168.05.

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

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock worth $35,993,340 over the last ninety days. 11.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GOOGL has been the topic of a number of analyst reports. Morgan Stanley lowered their target price on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Pivotal Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 1st. JMP Securities reissued a “market outperform” rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, September 25th. Citigroup increased their target price on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Guggenheim increased their price objective on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $201.76.

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.